MercadoLibre, Inc. $MELI Position Increased by Western Wealth Management LLC

Western Wealth Management LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.8% during the second quarter, Holdings Channel reports. The firm owned 166 shares of the company’s stock after acquiring an additional 41 shares during the quarter. Western Wealth Management LLC’s holdings in MercadoLibre were worth $434,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MELI. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $25,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group boosted its stake in 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. Twin Tree Management LP bought a new position in shares of MercadoLibre during the first quarter valued at approximately $29,000. Finally, Saudi Central Bank bought a new position in shares of MercadoLibre during the first quarter valued at approximately $35,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of several recent research reports. BTIG Research reissued a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Friday, November 14th. Susquehanna cut their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. Daiwa Capital Markets started coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective on the stock. Finally, Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,854.71.

MercadoLibre Trading Up 0.1%

Shares of MELI stock opened at $2,058.81 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm has a market capitalization of $104.38 billion, a PE ratio of 50.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The stock has a fifty day moving average of $2,244.58 and a two-hundred day moving average of $2,369.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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 company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. MercadoLibre’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.83 earnings per share. As a group, 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.