Ellsworth Advisors LLC Purchases Shares of 1,609 MercadoLibre, Inc. $MELI

Key Points

• Ellsworth Advisors LLC has acquired 1,609 shares of MercadoLibre, Inc., valued at approximately $3.14 million, indicating growing institutional interest in the stock.
• Despite recent challenges, MercadoLibre reported a revenue increase of 33.8% year-over-year, generating $6.79 billion during the last quarter.
• Analysts have expressed a positive outlook, with a consensus > rating of "Moderate Buy" and a target price averaging around $2,817.22 for MercadoLibre shares.

Ellsworth Advisors LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,609 shares of the company's stock, valued at approximately $3,139,000.

Other large investors have also recently modified their holdings of the company. Key Financial Inc bought a new stake in shares of MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre in the 1st quarter valued at about $25,000. Close Asset Management Ltd lifted its stake in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $26,000. Finally, Brooklyn Investment Group lifted its stake in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 1.0%

NASDAQ MELI opened at $2,348.99 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The business's 50-day moving average is $2,391.71 and its 200 day moving average is $2,304.11. The stock has a market capitalization of $119.09 billion, a PE ratio of 58.01, a PEG ratio of 1.54 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 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 company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter last year, the business earned $10.48 earnings per share. The business's quarterly revenue was up 33.8% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Daiwa Capital Markets assumed coverage on MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank began coverage on MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One research 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

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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