Price T Rowe Associates Inc. MD Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 43.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 771,893 shares of the company’s stock after acquiring an additional 232,787 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.52% of MercadoLibre worth $1,167,073,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. First PREMIER Bank bought a new stake in MercadoLibre during the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $28,000. Archer Investment Corp bought a new stake in MercadoLibre during the 4th quarter valued at $31,000. Larson Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter valued at $36,000. Finally, DSM Capital Partners LLC bought a new stake in MercadoLibre during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.6 %

NASDAQ:MELI traded up $26.54 during mid-day trading on Friday, hitting $1,651.69. 169,025 shares of the company’s stock traded hands, compared to its average volume of 268,254. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The company has a fifty day moving average of $1,654.99 and a 200 day moving average of $1,619.50. The company has a market capitalization of $83.74 billion, a P/E ratio of 73.90, a P/E/G ratio of 1.22 and a beta of 1.60. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.97 EPS. On average, analysts forecast that MercadoLibre, Inc. will post 33.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Barclays boosted their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, UBS Group reduced their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,922.08.

MercadoLibre Profile

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.