Wedbush Securities Inc. Buys 47 Shares of MercadoLibre, Inc. $MELI

Wedbush Securities Inc. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% during the second quarter, HoldingsChannel.com reports. The firm owned 2,047 shares of the company’s stock after buying an additional 47 shares during the period. Wedbush Securities Inc.’s holdings in MercadoLibre were worth $5,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MELI. Key Financial Inc purchased a new stake in shares of MercadoLibre in the first quarter worth about $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd lifted its stake in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Brooklyn Investment Group boosted its holdings in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the period. Finally, Twin Tree Management LP purchased a new position in shares of MercadoLibre during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Finally, Susquehanna dropped their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,861.25.

MercadoLibre Stock Down 0.9%

Shares of NASDAQ:MELI opened at $2,108.60 on Friday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $2,290.36 and its 200-day moving average price is $2,375.77. The stock has a market capitalization of $106.90 billion, a P/E ratio of 51.45, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the business earned $7.83 earnings per share. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.