Advisors Capital Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,329 shares of the company's stock, valued at approximately $5,651,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre in the fourth quarter valued at $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter valued at about $29,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at about $30,000. Institutional investors own 87.62% of the company's stock.
Analyst Ratings Changes
MELI has been the topic of a number of research reports. Benchmark decreased their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research report on Wednesday, May 13th. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $2,272.00.
Get Our Latest Report on MELI
MercadoLibre Stock Performance
Shares of NASDAQ:MELI opened at $1,921.96 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company's 50 day moving average price is $1,786.39 and its two-hundred day moving average price is $1,774.91. The firm has a market cap of $97.44 billion, a PE ratio of 52.27, a PEG ratio of 1.31 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm's quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the business earned $10.31 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.
About MercadoLibre
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
