Arkadios Wealth Advisors Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Arkadios Wealth Advisors has purchased 108 shares of MercadoLibre, Inc. valued at approximately $211,000, increasing interest from institutional investors in the company.
• MercadoLibre recently reported earnings of $10.31 per share, missing analysts' estimates, though revenue increased by 33.8% year-over-year to $6.79 billion.
• Analysts have set a consensus price target for MercadoLibre shares at $2,789.44, with a majority rating the stock as a "Moderate Buy."

Arkadios Wealth Advisors purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 108 shares of the company's stock, valued at approximately $211,000.

Several other large investors have also recently modified their holdings of the stock. Key Financial Inc bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Covestor Ltd purchased a new stake in MercadoLibre during the fourth quarter valued at $27,000. Finally, Close Asset Management Ltd lifted its holdings in 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 acquiring an additional 11 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MELI shares. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,700.00 price objective on shares of MercadoLibre in a report on Tuesday. Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective on the stock. Scotiabank began coverage on MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target for the company. Finally, Susquehanna reiterated a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Stock Up 0.8%

Shares of MercadoLibre stock traded up $18.88 during trading on Friday, hitting $2,353.70. 303,477 shares of the stock traded hands, compared to its average volume of 396,081. The stock's fifty day simple moving average is $2,441.77 and its 200 day simple moving average is $2,238.33. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The firm has a market cap of $119.33 billion, a P/E ratio of 58.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

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