Independent Solutions Wealth Management LLC Grows Stake in MercadoLibre, Inc. $MELI

Independent Solutions Wealth Management LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 871 shares of the company’s stock after acquiring an additional 23 shares during the period. Independent Solutions Wealth Management LLC’s holdings in MercadoLibre were worth $2,276,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Shell Asset Management Co. grew its holdings in MercadoLibre by 23.5% during the 2nd quarter. Shell Asset Management Co. now owns 2,620 shares of the company’s stock valued at $6,848,000 after purchasing an additional 498 shares in the last quarter. Prasad Wealth Partners LLC purchased a new stake in MercadoLibre during the 2nd quarter worth approximately $902,000. Joel Isaacson & Co. LLC boosted its stake in shares of MercadoLibre by 8.9% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 427 shares of the company’s stock valued at $1,116,000 after buying an additional 35 shares during the last quarter. Slow Capital Inc. grew its position in shares of MercadoLibre by 0.4% during the second quarter. Slow Capital Inc. now owns 14,908 shares of the company’s stock worth $38,963,000 after buying an additional 63 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in shares of MercadoLibre by 5.2% in the second quarter. KLP Kapitalforvaltning AS now owns 16,300 shares of the company’s stock worth $42,602,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on MELI shares. Barclays reduced their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a report on Saturday, September 27th. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,822.78.

MercadoLibre Stock Down 0.9%

NASDAQ MELI opened at $2,154.22 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company has a market capitalization of $109.22 billion, a P/E ratio of 53.20, a PEG ratio of 1.45 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company’s 50 day simple moving average is $2,378.30 and its 200 day simple moving average is $2,345.89.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share 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 analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.48 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share 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.