Beacon Pointe Advisors LLC Makes New $1.14 Million Investment in MercadoLibre, Inc. $MELI

Key Points

• Beacon Pointe Advisors purchased 672 MercadoLibre shares worth approximately $1.14 million in the second quarter. Institutional investors and hedge funds collectively own 87.62% of MELI’s outstanding shares.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $2,272, despite some target-price reductions.
• MercadoLibre reported quarterly EPS of $9.19, exceeding estimates, while revenue rose 49.8% year over year to $10.17 billion. Shares opened at $1,966.25, with a market capitalization of about $99.68 billion.

Beacon Pointe Advisors LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 672 shares of the company's stock, valued at approximately $1,141,000.

Several other hedge funds also recently modified their holdings of the company. Bison Wealth LLC acquired a new position in MercadoLibre in the 4th quarter worth approximately $206,000. Empowered Funds LLC raised its stake in MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company's stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth raised its stake in MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company's stock valued at $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of MercadoLibre in the second quarter valued at $261,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock valued at $444,000 after purchasing an additional 30 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on MELI shares. Scotiabank decreased their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research report on Thursday, May 7th. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Cantor Fitzgerald raised their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. 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, Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,966.25 on Monday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $1,824.45 and its two-hundred day moving average is $1,770.51. The company has a market cap of $99.68 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the firm posted $10.31 earnings per share. The company's quarterly revenue was up 49.8% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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