Cetera Investment Advisers Grows Position in MercadoLibre, Inc. $MELI

Cetera Investment Advisers raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,951 shares of the company’s stock after purchasing an additional 817 shares during the quarter. Cetera Investment Advisers’ holdings in MercadoLibre were worth $18,168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. Close Asset Management Ltd grew its stake in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC increased its holdings in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group raised its stake in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in shares of MercadoLibre during the first quarter worth about $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.1%

MercadoLibre stock opened at $2,058.81 on Wednesday. The firm has a market cap of $104.38 billion, a PE ratio of 50.24, a P/E/G ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock’s 50 day simple moving average is $2,244.58 and its two-hundred day simple moving average is $2,369.78. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the prior year, the firm earned $7.83 earnings per share. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on MELI shares. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Friday, November 14th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,854.71.

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.