MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Raised by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 159.4% during the second quarter, Holdings Channel reports. The firm owned 978 shares of the company’s stock after purchasing an additional 601 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in MercadoLibre were worth $1,607,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. First PREMIER Bank purchased a new position in MercadoLibre in the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. DSM Capital Partners LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth approximately $36,000. Scarborough Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $36,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Cantor Fitzgerald started coverage on MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price objective for the company. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,182.92.

MercadoLibre Stock Down 0.8 %

MELI stock opened at $2,122.37 on Monday. The firm has a market cap of $107.60 billion, a PE ratio of 94.96, a PEG ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,143.96. The company has a fifty day simple moving average of $1,860.84 and a 200 day simple moving average of $1,673.87. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 earnings per share. Sell-side analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

MercadoLibre 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.