Sullivan Bruyette Speros & Blaney LLC Purchases Shares of 425 Mercadolibre Inc (NASDAQ:MELI)

Sullivan Bruyette Speros & Blaney LLC purchased a new stake in Mercadolibre Inc (NASDAQ:MELI) during the second quarter, according to its most recent filing with the SEC. The fund purchased 425 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of Mercadolibre by 21.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the company’s stock worth $1,504,000 after buying an additional 526 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Mercadolibre by 32.8% in the second quarter. Janney Montgomery Scott LLC now owns 2,693 shares of the company’s stock worth $1,648,000 after buying an additional 665 shares during the period. Cedar Capital LLC increased its position in Mercadolibre by 17.3% in the second quarter. Cedar Capital LLC now owns 1,779 shares of the company’s stock worth $1,088,000 after buying an additional 263 shares during the period. JGP Global Gestao de Recursos Ltda. increased its holdings in shares of Mercadolibre by 24.1% during the second quarter. JGP Global Gestao de Recursos Ltda. now owns 37,360 shares of the company’s stock valued at $22,856,000 after purchasing an additional 7,260 shares during the period. Finally, Westpac Banking Corp increased its holdings in shares of Mercadolibre by 38.4% during the first quarter. Westpac Banking Corp now owns 34,944 shares of the company’s stock valued at $17,742,000 after purchasing an additional 9,695 shares during the period. Institutional investors own 83.37% of the company’s stock.

Shares of NASDAQ:MELI traded up $15.82 during midday trading on Wednesday, reaching $628.12. The company had a trading volume of 13,252 shares, compared to its average volume of 592,464. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.53 and a current ratio of 2.54. Mercadolibre Inc has a 1-year low of $257.52 and a 1-year high of $698.98. The firm has a market cap of $30.44 billion, a price-to-earnings ratio of -765.61 and a beta of 1.76. The company has a fifty day simple moving average of $634.75 and a two-hundred day simple moving average of $539.28.

Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The business had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. During the same quarter last year, the company posted ($0.25) EPS. Mercadolibre’s revenue for the quarter was up 62.6% on a year-over-year basis. Analysts expect that Mercadolibre Inc will post 0.69 EPS for the current year.

A number of brokerages have recently commented on MELI. Susquehanna Bancshares raised Mercadolibre from a “negative” rating to a “neutral” rating in a report on Friday, May 3rd.
BBA Icatu Securities lowered Mercadolibre from an “outperform” rating to an “underperform” rating and raised their price target for the company from $400.00 to $520.00 in a report on Wednesday, May 8th. Cowen set a $651.00 price target on Mercadolibre and gave the company a “hold” rating in a report on Monday, August 12th. ValuEngine lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Finally, Citigroup raised Mercadolibre from a “neutral” rating to a “buy” rating and raised their price target for the company from $609.00 to $729.00 in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Mercadolibre has an average rating of “Buy” and an average target price of $620.63.

Mercadolibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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