HBK Sorce Advisory LLC Makes New $302,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

HBK Sorce Advisory LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 184 shares of the company’s stock, valued at approximately $302,000.

A number of other large investors have also bought and sold shares of MELI. Capital International Investors lifted its stake in MercadoLibre by 0.4% during the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after acquiring an additional 4,317 shares in the last quarter. Capital World Investors grew its position in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. GQG Partners LLC increased its stake in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on MELI shares. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald began coverage on shares of MercadoLibre in a report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target on the stock. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. BTIG Research boosted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,182.92.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,122.37 on Monday. The stock has a fifty day moving average of $1,860.84 and a 200-day moving average of $1,673.87. The stock has a market cap of $107.60 billion, a PE ratio of 94.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the business posted $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.