Kingswood Wealth Advisors LLC Lowers Stock Holdings in MercadoLibre, Inc. $MELI

Kingswood Wealth Advisors LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 36.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 191 shares of the company’s stock after selling 109 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in MercadoLibre were worth $499,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ninety One North America Inc. lifted its stake in shares of MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares in the last quarter. Banco Santander S.A. lifted its stake in shares of MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after buying an additional 1,893 shares in the last quarter. Stratos Investment Management LLC purchased a new position in shares of MercadoLibre during the 1st quarter valued at $203,000. Bosman Wealth Management LLC lifted its stake in shares of MercadoLibre by 88.5% during the 2nd quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock valued at $2,616,000 after buying an additional 470 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of MercadoLibre during the 1st quarter valued at $439,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 4.4%

Shares of MELI stock opened at $2,275.00 on Friday. The company’s fifty day simple moving average is $2,368.34 and its two-hundred day simple moving average is $2,344.62. 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 stock has a market cap of $115.34 billion, a P/E ratio of 56.19, a PEG ratio of 1.46 and a beta of 1.46. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on MELI shares. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price on the stock. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Susquehanna reiterated a “positive” rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,814.44.

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.