Punch & Associates Investment Management Inc. Purchases New Holdings in MercadoLibre, Inc. $MELI

Punch & Associates Investment Management Inc. acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 9,288 shares of the company’s stock, valued at approximately $15,765,000.

Several other large investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the fourth quarter valued at about $28,000. Wedbush Fund Advisers LLC bought a new position in MercadoLibre in the second quarter valued at about $29,000. Finally, Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the second quarter worth about $29,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,950.44 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market cap of $98.89 billion, a PE ratio of 53.04, a PEG ratio of 1.37 and a beta of 1.34. The company has a fifty day moving average price of $1,811.91 and a 200 day moving average price of $1,771.27. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter last year, the firm earned $10.31 EPS. Research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of several recent research reports. Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. UBS Group cut their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.