MercadoLibre (MELI) Shares Bought by Westpac Banking Corp

Westpac Banking Corp raised its stake in MercadoLibre (NASDAQ:MELI) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,793 shares of the company’s stock after purchasing an additional 2,853 shares during the quarter. Westpac Banking Corp owned about 0.06% of MercadoLibre worth $9,905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Eqis Capital Management Inc. boosted its holdings in shares of MercadoLibre by 2.2% in the 4th quarter. Eqis Capital Management Inc. now owns 7,065 shares of the company’s stock valued at $2,223,000 after purchasing an additional 153 shares during the last quarter. Parametrica Management Ltd boosted its holdings in shares of MercadoLibre by 17.9% in the 4th quarter. Parametrica Management Ltd now owns 1,214 shares of the company’s stock valued at $382,000 after purchasing an additional 184 shares during the last quarter. Dumac Inc. boosted its holdings in shares of MercadoLibre by 105.6% in the 4th quarter. Dumac Inc. now owns 370 shares of the company’s stock valued at $116,000 after purchasing an additional 190 shares during the last quarter. Pier 88 Investment Partners LLC boosted its holdings in shares of MercadoLibre by 10.7% in the 4th quarter. Pier 88 Investment Partners LLC now owns 2,020 shares of the company’s stock valued at $636,000 after purchasing an additional 195 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of MercadoLibre by 17.1% in the 4th quarter. D.A. Davidson & CO. now owns 1,489 shares of the company’s stock valued at $469,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

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NASDAQ:MELI opened at $329.97 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.96. The firm has a market cap of $14,597.98, a P/E ratio of 130.42 and a beta of 2.08. MercadoLibre has a twelve month low of $217.06 and a twelve month high of $417.91.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 22nd. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.35). The business had revenue of $436.98 million for the quarter, compared to analyst estimates of $404.74 million. MercadoLibre had a net margin of 0.99% and a return on equity of 26.75%. sell-side analysts forecast that MercadoLibre will post 1.96 EPS for the current year.

A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of MercadoLibre from a “buy” rating to a “strong-buy” rating in a report on Wednesday. BidaskClub upgraded shares of MercadoLibre from a “sell” rating to a “hold” rating in a report on Saturday, April 28th. Barclays decreased their price target on shares of MercadoLibre from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, April 25th. Cowen reiterated a “hold” rating and issued a $373.00 price target on shares of MercadoLibre in a report on Tuesday, April 17th. Finally, Bank of America reiterated a “buy” rating and issued a $450.00 price target (up previously from $385.00) on shares of MercadoLibre in a report on Wednesday, April 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $350.41.

MercadoLibre Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)