Ethos Financial Group LLC Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Ethos Financial Group LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,207 shares of the company’s stock, valued at approximately $2,355,000.

Other large investors also recently modified their holdings of the company. Key Financial Inc purchased a new position in shares of MercadoLibre during the 1st quarter valued at $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre during the 1st quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Close Asset Management Ltd lifted its stake in shares of 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 buying an additional 11 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,795.00.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,392.30 on Friday. The company’s 50-day moving average price is $2,414.57 and its 200-day moving average price is $2,261.37. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market cap of $121.29 billion, a PE ratio of 59.08, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.48 earnings per share. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.