Barlow Wealth Partners Inc. Has $12.55 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Barlow Wealth Partners Inc. significantly increased its stake in MercadoLibre, Inc. by 1,257.2% during Q2, now holding 5,076 shares valued at approximately $12.55 million.
• Despite a strong revenue increase of 33.8% year-over-year, MercadoLibre reported earnings per share of $10.31, falling short of analyst expectations by $1.70.
• The stock has a 52-week trading range between $1,646.00 and $2,645.22, and it currently has a market cap of $103.85 billion.

Barlow Wealth Partners Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1,257.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,076 shares of the company's stock after acquiring an additional 4,702 shares during the quarter. Barlow Wealth Partners Inc.'s holdings in MercadoLibre were worth $12,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MELI. Key Financial Inc acquired a new position in shares of MercadoLibre in the first quarter worth $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the first quarter worth $25,000. Close Asset Management Ltd increased its stake in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of MercadoLibre in the first quarter worth $29,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 5.1%

Shares of NASDAQ:MELI opened at $2,048.35 on Thursday. The company has a market cap of $103.85 billion, a P/E ratio of 50.59, a P/E/G ratio of 1.46 and a beta of 1.46. The stock's 50-day moving average is $2,348.72 and its 200-day moving average is $2,345.35. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. 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 (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 business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business posted $10.48 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MELI shares. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of MercadoLibre in a report on Wednesday, October 8th. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a report on Friday, October 3rd. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price objective 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 given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,810.88.

MercadoLibre 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.

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.