MercadoLibre (MELI) Stake Boosted by Engineers Gate Manager LP

Engineers Gate Manager LP grew its holdings in MercadoLibre (NASDAQ:MELI) by 686.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,024 shares of the company’s stock after purchasing an additional 7,876 shares during the period. Engineers Gate Manager LP’s holdings in MercadoLibre were worth $3,216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. USS Investment Management Ltd bought a new position in shares of MercadoLibre in the 4th quarter valued at $26,276,000. Global X Management Co. LLC boosted its holdings in shares of MercadoLibre by 20.0% during the 4th quarter. Global X Management Co. LLC now owns 155,469 shares of the company’s stock valued at $48,920,000 after acquiring an additional 25,904 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 9.4% during the 4th quarter. Jennison Associates LLC now owns 831,137 shares of the company’s stock valued at $261,526,000 after acquiring an additional 71,206 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of MercadoLibre by 19,104.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 9,602 shares of the company’s stock valued at $425,000 after acquiring an additional 9,552 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of MercadoLibre by 2.3% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 131,884 shares of the company’s stock valued at $41,499,000 after acquiring an additional 2,932 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

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MELI has been the topic of several recent research reports. Bank of America reissued a “buy” rating and set a $450.00 price objective (up previously from $385.00) on shares of MercadoLibre in a report on Wednesday, April 11th. Zacks Investment Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 27th. Stifel Nicolaus downgraded MercadoLibre from a “buy” rating to a “hold” rating and cut their price objective for the company from $425.00 to $405.00 in a report on Thursday, March 15th. JPMorgan Chase raised MercadoLibre from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 28th. Finally, BidaskClub raised MercadoLibre from a “buy” rating to a “strong-buy” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $342.55.

Shares of MercadoLibre opened at $298.58 on Tuesday, according to MarketBeat Ratings. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 118.02 and a beta of 2.08. MercadoLibre has a 12 month low of $296.93 and a 12 month high of $313.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.33 and a current ratio of 1.33.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.35). The company had revenue of $436.98 million for the quarter, compared to analyst estimates of $404.74 million. MercadoLibre had a positive return on equity of 12.71% and a negative net margin of 3.30%. equities research analysts forecast that MercadoLibre will post 1.15 EPS for the current year.

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)