Left Brain Wealth Management LLC Has $5.87 Million Stock Position in MercadoLibre, Inc. $MELI

Left Brain Wealth Management LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1,100.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,245 shares of the company’s stock after acquiring an additional 2,058 shares during the quarter. MercadoLibre comprises 2.1% of Left Brain Wealth Management LLC’s holdings, making the stock its 19th largest position. Left Brain Wealth Management LLC’s holdings in MercadoLibre were worth $5,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MELI. Bison Wealth LLC acquired a new stake in MercadoLibre during the 4th quarter worth approximately $206,000. Private Advisor Group LLC lifted its holdings in shares of MercadoLibre by 9.7% during the first quarter. Private Advisor Group LLC now owns 552 shares of the company’s stock worth $1,077,000 after buying an additional 49 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of MercadoLibre in the first quarter valued at about $412,000. AE Wealth Management LLC grew its stake in shares of MercadoLibre by 14.4% in the first quarter. AE Wealth Management LLC now owns 207 shares of the company’s stock valued at $404,000 after acquiring an additional 26 shares in the last quarter. Finally, Brookwood Investment Group LLC acquired a new position in shares of MercadoLibre in the first quarter valued at about $283,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.7%

NASDAQ MELI opened at $1,951.78 on Friday. The business has a fifty day moving average price of $2,222.62 and a two-hundred day moving average price of $2,363.37. The stock has a market capitalization of $98.95 billion, a PE ratio of 47.63, a PEG ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MELI. Benchmark cut their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Citigroup reduced their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,854.71.

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.