Dakota Wealth Management Acquires 3,443 Shares of MercadoLibre, Inc. $MELI

Key Points

• Dakota Wealth Management significantly increased its stake in MercadoLibre, acquiring an additional 3,443 shares and raising its total ownership by 309.3% during the second quarter.
• MercadoLibre's stock has a consensus rating of "Moderate Buy" with an average target price of $2,828.33, reflecting analysts' optimism despite a recent miss in earnings per share estimates.
• The company's revenue for the most recent quarter increased by 33.8% year-over-year, totaling $6.79 billion, exceeding analysts' expectations.

Dakota Wealth Management grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 309.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,556 shares of the company's stock after acquiring an additional 3,443 shares during the quarter. Dakota Wealth Management's holdings in MercadoLibre were worth $11,908,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Key Financial Inc bought a new stake in shares of MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the first quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in MercadoLibre during the fourth quarter worth about $26,000. Close Asset Management Ltd lifted its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group lifted its position in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the period. Institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MELI shares. Benchmark reaffirmed a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a report on Wednesday. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,828.33.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,510.97 on Thursday. The company has a market capitalization of $127.31 billion, a PE ratio of 62.01, a P/E/G ratio of 1.62 and a beta of 1.49. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two 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. The company has a 50 day simple moving average of $2,387.92 and a two-hundred day simple moving average of $2,325.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $6.57 billion. During the same quarter in the prior year, the business earned $10.48 earnings per share. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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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