Heirloom Wealth Management Has $15.77 Million Stock Position in MercadoLibre, Inc. $MELI

Heirloom Wealth Management increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,032 shares of the company’s stock after buying an additional 78 shares during the quarter. MercadoLibre accounts for about 4.2% of Heirloom Wealth Management’s investment portfolio, making the stock its 10th largest position. Heirloom Wealth Management’s holdings in MercadoLibre were worth $15,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its position in shares of MercadoLibre by 28.6% during the 2nd quarter. Brighton Jones LLC now owns 162 shares of the company’s stock worth $423,000 after buying an additional 36 shares during the period. Leavell Investment Management Inc. lifted its position in shares of MercadoLibre by 24.3% during the 2nd quarter. Leavell Investment Management Inc. now owns 143 shares of the company’s stock worth $374,000 after buying an additional 28 shares during the period. Rational Advisors Inc. lifted its position in shares of MercadoLibre by 46.7% during the 2nd quarter. Rational Advisors Inc. now owns 1,100 shares of the company’s stock worth $2,875,000 after buying an additional 350 shares during the period. AG2R LA Mondiale Gestion D Actifs lifted its position in shares of MercadoLibre by 0.9% during the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 1,703 shares of the company’s stock worth $4,451,000 after buying an additional 15 shares during the period. Finally, Curio Wealth LLC lifted its position in shares of MercadoLibre by 1,400.0% during the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after buying an additional 14 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MELI. Scotiabank began coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup cut their price objective on 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. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Trading Up 0.6%

MELI stock opened at $2,161.11 on Friday. The company has a market cap of $109.57 billion, a P/E ratio of 53.37, a PEG ratio of 1.47 and a beta of 1.46. 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 business has a fifty day moving average of $2,315.64 and a 200-day moving average of $2,359.44.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 43.06% and a net margin of 8.52%.The company’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.48 EPS. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.