PDS Planning Inc Invests $225,000 in MercadoLibre, Inc. $MELI

PDS Planning Inc bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 86 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $206,000. Yousif Capital Management LLC bought a new stake in shares of MercadoLibre during the 1st quarter worth approximately $261,000. CX Institutional acquired a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $224,000. Fifth Third Bancorp grew its stake in shares of MercadoLibre by 5.2% in the first quarter. Fifth Third Bancorp now owns 2,038 shares of the company’s stock valued at $3,976,000 after buying an additional 101 shares in the last quarter. Finally, CVA Family Office LLC increased its holdings in MercadoLibre by 12.7% during the first quarter. CVA Family Office LLC now owns 71 shares of the company’s stock worth $139,000 after buying an additional 8 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,133.67 on Monday. The business has a fifty day moving average price of $2,363.50 and a two-hundred day moving average price of $2,347.84. The stock has a market capitalization of $108.18 billion, a PE ratio of 52.70, a P/E/G ratio of 1.43 and a beta of 1.46. 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, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

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

Analyst Ratings Changes

A number of analysts have commented on MELI shares. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research note 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 price target on the stock. Citigroup cut 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. Finally, Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,815.29.

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.