Centric Wealth Management Invests $218,000 in MercadoLibre, Inc. $MELI

Key Points

• Centric Wealth Management has invested approximately $218,000 in MercadoLibre, Inc. (NASDAQ:MELI) by acquiring 112 shares in the first quarter.
• Institutional investors now hold 87.62% of MercadoLibre's stock, showcasing significant interest from major financial entities in the company.
• Analysts have mixed sentiment, with MercadoLibre receiving a consensus rating of "Moderate Buy" and a target price averaging around $2,817.22.

Centric Wealth Management bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 112 shares of the company's stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also made changes to their positions in MELI. Assenagon Asset Management S.A. lifted its position in shares of MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after purchasing an additional 173,449 shares during the last quarter. Invesco Ltd. lifted its position in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. GQG Partners LLC lifted its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after purchasing an additional 87,912 shares during the last quarter. Nuveen LLC bought a new stake in shares of MercadoLibre during the first quarter worth $143,367,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of MercadoLibre by 18.7% during the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company's stock worth $878,757,000 after purchasing an additional 70,834 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MELI shares. Barclays decreased their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Benchmark restated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. Scotiabank initiated coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,472.91 on Friday. The company has a market capitalization of $125.37 billion, a PE ratio of 61.07, a P/E/G ratio of 1.61 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a 50-day simple moving average of $2,413.70 and a two-hundred day simple moving average of $2,288.37. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion during 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 business's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.48 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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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