Simon Quick Advisors LLC Takes $293,000 Position in MercadoLibre, Inc. $MELI

Simon Quick Advisors LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 112 shares of the company’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MELI. Bison Wealth LLC bought a new position in MercadoLibre in the 4th quarter worth approximately $206,000. OneDigital Investment Advisors LLC lifted its stake in MercadoLibre by 13.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 874 shares of the company’s stock worth $1,705,000 after purchasing an additional 102 shares in the last quarter. World Investment Advisors lifted its stake in MercadoLibre by 11.7% in the 1st quarter. World Investment Advisors now owns 582 shares of the company’s stock worth $1,135,000 after purchasing an additional 61 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in MercadoLibre by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 120,586 shares of the company’s stock worth $235,247,000 after purchasing an additional 4,307 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in MercadoLibre by 31.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 451 shares of the company’s stock worth $880,000 after purchasing an additional 107 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on MELI shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective on the stock. Cantor Fitzgerald lowered 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. Citigroup lowered their price objective on shares of 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,822.35.

MercadoLibre Price Performance

MELI stock opened at $2,316.40 on Tuesday. The firm’s 50-day moving average price is $2,308.75 and its two-hundred day moving average price is $2,376.21. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $117.43 billion, a price-to-earnings ratio of 56.53, 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 (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the firm posted $7.83 EPS. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.