Carret Asset Management LLC Has $2.07 Million Stock Position in MercadoLibre, Inc. $MELI

Carret Asset Management LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 792 shares of the company’s stock after acquiring an additional 43 shares during the quarter. Carret Asset Management LLC’s holdings in MercadoLibre were worth $2,070,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Noesis Capital Mangement Corp bought a new stake in shares of MercadoLibre in the second quarter valued at approximately $363,000. Assetmark Inc. grew its position in MercadoLibre by 6.7% during the second quarter. Assetmark Inc. now owns 3,017 shares of the company’s stock worth $7,885,000 after buying an additional 189 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in MercadoLibre by 13.8% during the second quarter. Premier Path Wealth Partners LLC now owns 297 shares of the company’s stock worth $775,000 after buying an additional 36 shares in the last quarter. Arkadios Wealth Advisors grew its position in MercadoLibre by 13.9% during the second quarter. Arkadios Wealth Advisors now owns 123 shares of the company’s stock worth $321,000 after buying an additional 15 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in MercadoLibre during the second quarter worth approximately $165,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.3%

Shares of MELI stock opened at $2,295.92 on Thursday. 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 cap of $116.40 billion, a P/E ratio of 56.70, a PEG ratio of 1.56 and a beta of 1.46. The stock has a 50 day simple moving average of $2,312.15 and a two-hundred day simple moving average of $2,368.78. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the business posted $7.83 EPS. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of a number of analyst reports. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays cut their target price on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Finally, Benchmark restated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, October 21st. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Company 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.