Avity Investment Management Inc. Acquires 1,434 Shares of MercadoLibre, Inc. $MELI

Key Points

• Avity Investment Management increased its MercadoLibre stake by 11.6%, purchasing 1,434 shares to own 13,822 shares valued at approximately $23.9 million. Institutional investors and hedge funds collectively hold 87.62% of MELI shares.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and six Hold ratings. MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,251.88.
• MercadoLibre shares rose 1.8% to $1,889.85, while the company’s latest quarterly results exceeded expectations: EPS came in at $9.19 versus $8.65 expected, and revenue increased 49.8% year over year to $10.17 billion.

Avity Investment Management Inc. increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,822 shares of the company's stock after purchasing an additional 1,434 shares during the quarter. MercadoLibre accounts for 1.4% of Avity Investment Management Inc.'s holdings, making the stock its 27th biggest position. Avity Investment Management Inc.'s holdings in MercadoLibre were worth $23,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MELI. Wedmont Private Capital boosted its holdings in MercadoLibre by 63.9% during the third quarter. Wedmont Private Capital now owns 300 shares of the company's stock worth $557,000 after buying an additional 117 shares in the last quarter. Athena Wealth Management LLC lifted its position in shares of MercadoLibre by 18.4% during the 3rd quarter. Athena Wealth Management LLC now owns 553 shares of the company's stock valued at $956,000 after acquiring an additional 86 shares during the last quarter. Stableford Capital II LLC lifted its position in shares of MercadoLibre by 34.0% during the 3rd quarter. Stableford Capital II LLC now owns 2,556 shares of the company's stock valued at $4,418,000 after acquiring an additional 649 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of MercadoLibre by 5.3% during the 3rd quarter. GAMMA Investing LLC now owns 139 shares of the company's stock worth $240,000 after acquiring an additional 7 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC boosted its stake in shares of MercadoLibre by 44.2% during the 3rd quarter. Galvin Gaustad & Stein LLC now owns 326 shares of the company's stock worth $564,000 after acquiring an additional 100 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MELI shares. Susquehanna boosted their target price on MercadoLibre to $2,400.00 and gave the stock a "positive" rating in a research report on Tuesday. BTIG Research reissued a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, September 3rd. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a report on Tuesday, September 29th. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Citigroup raised their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,251.88.

MercadoLibre Stock Up 1.8%

Shares of MELI stock traded up $33.19 on Friday, reaching $1,889.85. 321,407 shares of the company's stock traded hands, compared to its average volume of 540,601. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,428.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company has a market capitalization of $95.82 billion, a P/E ratio of 51.40, a price-to-earnings-growth ratio of 1.31 and a beta of 1.31. The business's 50 day moving average price is $1,864.15 and its two-hundred day moving average price is $1,774.90.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the business earned $10.31 EPS. The business's revenue for the quarter was up 49.8% on a year-over-year basis. On average, equities analysts forecast that MercadoLibre, Inc. will post 38.29 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc NASDAQ: MELI operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.

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