Hudson Valley Investment Advisors Inc. ADV Makes New $5.09 Million Investment in MercadoLibre, Inc. $MELI

Key Points

• Hudson Valley Investment Advisors Inc. ADV has made a new investment in MercadoLibre, Inc., purchasing 1,947 shares worth approximately $5.09 million in the second quarter.
• MercadoLibre's most recent earnings report showed EPS of $10.31, missing expectations by $1.70, but revenue increased by 33.8% year-over-year to $6.79 billion.
• Various institutional investors, including Key Financial Inc. and GW&K Investment Management LLC, have recently taken new positions in MercadoLibre, illustrating strong institutional interest in the company, which has 87.62% of its stock owned by institutional investors.

Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,947 shares of the company's stock, valued at approximately $5,089,000.

Other institutional investors have also recently bought and sold shares of the company. Key Financial Inc acquired a new position in MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd raised its stake 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 acquiring an additional 11 shares in the last quarter. Highline Wealth Partners LLC raised its stake in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock worth $37,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake 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 acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MELI opened at $2,172.75 on Friday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business's fifty day moving average is $2,382.29 and its 200 day moving average is $2,341.63. 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 stock has a market cap of $110.16 billion, a P/E ratio of 53.66, a P/E/G ratio of 1.49 and a beta of 1.46.

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. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research analyst reports. Scotiabank began coverage on MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 target price for the company. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Citigroup lowered their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,822.78.

MercadoLibre Company 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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