Bosman Wealth Management LLC Increases Stake in MercadoLibre, Inc. $MELI

Key Points

• Bosman Wealth Management LLC increased its stake in MercadoLibre, Inc. by 88.5% during the 2nd quarter, bringing its total shares to 1,001 and making it the firm's 19th largest holding.
• MercadoLibre's shares are currently trading at approximately $2,501.31, with a market cap of $126.81 billion and showing a significant revenue increase of 33.8% year-over-year.
• Analysts hold a generally positive outlook on the stock, with a consensus rating of "Moderate Buy" and a target price averaging around $2,828.33.

Bosman Wealth Management LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 88.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,001 shares of the company's stock after buying an additional 470 shares during the period. MercadoLibre comprises approximately 2.3% of Bosman Wealth Management LLC's holdings, making the stock its 19th largest holding. Bosman Wealth Management LLC's holdings in MercadoLibre were worth $2,616,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Chicago Capital LLC lifted its stake in shares of MercadoLibre by 5.1% during the 2nd quarter. Chicago Capital LLC now owns 3,982 shares of the company's stock worth $10,407,000 after purchasing an additional 192 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of MercadoLibre by 31.0% during the 2nd quarter. Capital Investment Advisors LLC now owns 148 shares of the company's stock worth $387,000 after purchasing an additional 35 shares during the last quarter. Asio Capital LLC lifted its stake in shares of MercadoLibre by 2.4% during the 2nd quarter. Asio Capital LLC now owns 2,533 shares of the company's stock worth $6,620,000 after purchasing an additional 59 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of MercadoLibre by 9.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 7,339 shares of the company's stock worth $19,183,000 after purchasing an additional 655 shares during the last quarter. Finally, Venture Visionary Partners LLC lifted its stake in shares of MercadoLibre by 9.2% during the 2nd quarter. Venture Visionary Partners LLC now owns 1,937 shares of the company's stock worth $5,063,000 after purchasing an additional 163 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MELI. Susquehanna restated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Benchmark reissued a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,828.33.

MercadoLibre Trading Up 1.3%

Shares of NASDAQ:MELI opened at $2,501.31 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The stock has a market cap of $126.81 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 1.61 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $2,394.29 and a 200-day moving average price of $2,340.65.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data 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). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the previous year, the business earned $10.48 earnings per share. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.

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