Index Fund Advisors Inc. Purchases Shares of 434 MercadoLibre, Inc. $MELI

Key Points

• Index Fund Advisors Inc. has purchased 434 shares of MercadoLibre, Inc. for approximately $1,134,000, reflecting increased interest from institutional investors.
• Analysts have recently adjusted their ratings and target prices for MercadoLibre, with a consensus rating of "Moderate Buy" and a target price of $2,815.29.
• MercadoLibre reported a quarterly earnings miss with an EPS of $10.31, falling short of analysts' estimates despite a revenue increase of 33.8% year-over-year.

Index Fund Advisors Inc. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 434 shares of the company's stock, valued at approximately $1,134,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Key Financial Inc acquired a new stake in shares of MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd increased its position in shares of 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 in the last quarter. Highline Wealth Partners LLC increased its position in shares of 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 purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a research report on Friday, October 3rd. Citigroup cut their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating on the stock in a research report on Thursday. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. Finally, Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,815.29.

MercadoLibre Price Performance

Shares of MELI opened at $2,133.67 on Monday. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock's 50 day moving average is $2,363.50 and its two-hundred day moving average is $2,347.84. The firm has a market capitalization of $108.18 billion, a PE ratio of 52.70, a P/E/G ratio of 1.43 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.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the prior year, the firm posted $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% compared to the same quarter last year. 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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