Anderson Financial Strategies LLC Takes $644,000 Position in MercadoLibre, Inc. $MELI

Key Points

• Anderson Financial Strategies LLC has acquired a new position in MercadoLibre, Inc. worth approximately $644,000, which constitutes 0.4% of its portfolio, making it the firm's 29th largest holding.
• Several institutional investors have also increased their stakes in MercadoLibre, with hedge funds owning approximately 87.62% of the company's stock.
• Analysts have set aggressive price targets for MercadoLibre, with estimates ranging up to $3,000.00, while the company reported strong revenue growth of 33.8% year-over-year despite missing EPS expectations.

Anderson Financial Strategies LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 330 shares of the company's stock, valued at approximately $644,000. MercadoLibre makes up 0.4% of Anderson Financial Strategies LLC's portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Key Financial Inc purchased a new position in shares of MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Close Asset Management Ltd increased its holdings in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group increased its holdings in shares of MercadoLibre by 650.0% in the first 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 last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. 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. The Goldman Sachs Group increased their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Trading Down 1.0%

MELI opened at $2,348.99 on Thursday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The business has a fifty day simple moving average of $2,391.71 and a 200-day simple moving average of $2,304.11. The firm has a market cap of $119.09 billion, a P/E ratio of 58.01, a P/E/G ratio of 1.54 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the prior year, the business earned $10.48 earnings per share. The company's quarterly revenue was up 33.8% on a year-over-year basis. On average, equities analysts expect 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.