Kovack Advisors Inc. Has $3.03 Million Stake in MercadoLibre, Inc. $MELI

Kovack Advisors Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 73.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,158 shares of the company’s stock after buying an additional 492 shares during the quarter. Kovack Advisors Inc.’s holdings in MercadoLibre were worth $3,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MELI. Key Financial Inc acquired a new position in MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at about $25,000. Close Asset Management Ltd boosted its position in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP bought a new stake in shares of MercadoLibre in the first quarter valued at approximately $29,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,360.76 on Friday. The firm has a market cap of $119.69 billion, a price-to-earnings ratio of 57.61, a PEG ratio of 1.56 and a beta of 1.46. 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, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a 50 day moving average of $2,312.61 and a 200-day moving average of $2,368.72.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MELI shares. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup reduced 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. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Finally, Susquehanna decreased their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,790.59.

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.