Galvin Gaustad & Stein LLC Buys New Holdings in MercadoLibre, Inc. $MELI

Key Points

• Galvin Gaustad & Stein LLC has acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI), purchasing 3,484 shares valued at approximately $9.1 million.
• MercadoLibre's stock has seen a 4.4% increase, with a market cap of $115.34 billion and a current price of $2,275.00, despite recent earnings missing analysts' expectations.
• Analysts maintain a consensus rating of "Moderate Buy" for MercadoLibre, with target prices ranging from $2,600.00 to $3,000.00 from various equity research firms.

Galvin Gaustad & Stein LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,484 shares of the company's stock, valued at approximately $9,106,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Optimize Financial Inc grew its position in shares of MercadoLibre by 1.7% during the first quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after purchasing an additional 4 shares in the last quarter. Beacon Capital Management LLC grew its position in shares of MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after purchasing an additional 5 shares in the last quarter. Range Financial Group LLC grew its position in shares of MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company's stock valued at $491,000 after purchasing an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company's stock valued at $63,000 after purchasing an additional 5 shares in the last quarter. Finally, Forum Financial Management LP grew its position in shares of MercadoLibre by 3.1% during the first quarter. Forum Financial Management LP now owns 199 shares of the company's stock valued at $388,000 after purchasing an additional 6 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 4.4%

Shares of NASDAQ MELI opened at $2,275.00 on Friday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The stock has a market cap of $115.34 billion, a PE ratio of 56.19, a P/E/G ratio of 1.46 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $2,368.34 and a 200 day moving average of $2,344.62.

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 net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the prior year, the company posted $10.48 EPS. The firm's revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MELI shares. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price on the stock. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,814.44.

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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