417 Shares in MercadoLibre, Inc. $MELI Acquired by Virtus Wealth Solutions LLC

Key Points

• Virtus Wealth Solutions LLC has acquired a new stake in MercadoLibre, Inc. worth approximately $1,090,000 by purchasing 417 shares.
• MercadoLibre's recent earnings report showed EPS of $10.31, missing the consensus estimate of $12.01, although revenue increased 33.8% year-over-year.
• Market analysts maintain a Moderate Buy consensus rating for MercadoLibre, with a target price averaging around $2,822.78.

Virtus Wealth Solutions LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 417 shares of the company's stock, valued at approximately $1,090,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Assenagon Asset Management S.A. grew its position in MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after purchasing an additional 173,449 shares in the last quarter. Invesco Ltd. grew its position in MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. GQG Partners LLC lifted its stake in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after acquiring an additional 87,912 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in MercadoLibre in the first quarter valued at approximately $143,367,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.5%

MELI opened at $2,187.57 on Wednesday. The firm's 50-day simple moving average is $2,374.35 and its 200-day simple moving average is $2,344.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The firm has a market cap of $110.91 billion, a price-to-earnings ratio of 54.03, a PEG ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $10.48 EPS. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. Susquehanna reiterated a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Scotiabank initiated coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research note on Friday, October 3rd. Finally, Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,822.78.

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.

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