Atria Wealth Solutions Inc. Has $1.39 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in MercadoLibre, Inc. by 74%, now holding just 533 shares valued at approximately $1.39 million.
• Wall Street analysts have mixed views on MercadoLibre, with target prices ranging from $2,800 to $3,500, and an overall consensus rating of "Moderate Buy."
• The company's latest earnings report revealed a miss on EPS estimates, with earnings of $10.31 per share compared to a consensus of $12.01, despite revenues exceeding expectations.

Atria Wealth Solutions Inc. lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 74.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533 shares of the company's stock after selling 1,515 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in MercadoLibre were worth $1,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Bison Wealth LLC bought a new stake in MercadoLibre during the fourth quarter worth $206,000. Yousif Capital Management LLC bought a new stake in MercadoLibre during the first quarter worth $261,000. Wealth Enhancement Advisory Services LLC lifted its stake in MercadoLibre by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,218 shares of the company's stock worth $8,230,000 after purchasing an additional 169 shares during the last quarter. Ritholtz Wealth Management lifted its stake in MercadoLibre by 148.3% during the first quarter. Ritholtz Wealth Management now owns 427 shares of the company's stock worth $833,000 after purchasing an additional 255 shares during the last quarter. Finally, Brighton Jones LLC bought a new stake in MercadoLibre during the first quarter worth $246,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays cut their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. 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 target for the company. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Scotiabank started coverage on MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,810.88.

MercadoLibre Stock Down 0.3%

Shares of NASDAQ:MELI opened at $2,043.06 on Friday. The firm has a market cap of $103.58 billion, a P/E ratio of 50.46, a P/E/G ratio of 1.38 and a beta of 1.46. 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, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business has a fifty day simple moving average of $2,342.88 and a 200 day simple moving average of $2,345.99.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its 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 the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the business earned $10.48 earnings per share. Analysts predict 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.

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