MercadoLibre (NASDAQ:MELI) Releases Earnings Results, Misses Estimates By $1.56 EPS

MercadoLibre (NASDAQ:MELI - Get Free Report) released its earnings results on Wednesday. The company reported $8.32 earnings per share for the quarter, missing analysts' consensus estimates of $9.88 by ($1.56), Zacks reports. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%.

MercadoLibre Price Performance

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NASDAQ MELI traded up $5.78 on Wednesday, hitting $2,295.92. The stock had a trading volume of 543,970 shares, compared to its average volume of 406,732. MercadoLibre has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a market capitalization of $116.40 billion, a price-to-earnings ratio of 56.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46. The firm has a 50-day moving average of $2,312.95 and a 200-day moving average of $2,366.69.

Institutional Trading of MercadoLibre

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in MercadoLibre by 3.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company's stock worth $709,535,000 after purchasing an additional 9,474 shares in the last quarter. Durable Capital Partners LP raised its position in shares of MercadoLibre by 155.3% during the 2nd quarter. Durable Capital Partners LP now owns 147,984 shares of the company's stock valued at $386,775,000 after buying an additional 90,026 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of MercadoLibre by 5.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 40,020 shares of the company's stock valued at $104,619,000 after buying an additional 2,059 shares in the last quarter. AQR Capital Management LLC raised its position in shares of MercadoLibre by 236.5% during the 2nd quarter. AQR Capital Management LLC now owns 33,690 shares of the company's stock valued at $86,920,000 after buying an additional 23,678 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of MercadoLibre by 34.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,423 shares of the company's stock valued at $87,355,000 after buying an additional 8,630 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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A number of research analysts have recently weighed in on MELI shares. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price for the company. Weiss Ratings reissued a "buy (b)" rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $2,799.12.

Read Our Latest Report on MercadoLibre

About MercadoLibre

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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.

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