James J. Burns & Company LLC Buys New Shares in MercadoLibre, Inc. $MELI

Key Points

• James J. Burns & Company LLC acquired 118 shares of MercadoLibre, valued at approximately $309,000, marking a significant investment during Q2.
• Analysts have mixed ratings on MercadoLibre, with price targets ranging from $2,700.00 to $3,000.00, reflecting a Moderate Buy consensus rating.
• MercadoLibre reported $10.31 EPS for the last quarter, missing estimates, but its revenue rose by 33.8% year-over-year to $6.79 billion.

James J. Burns & Company LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 118 shares of the company's stock, valued at approximately $309,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MELI. Bank Pictet & Cie Europe AG acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $561,000. Bison Wealth LLC acquired a new position in MercadoLibre during the fourth quarter worth approximately $206,000. Vident Advisory LLC increased its position in MercadoLibre by 20.9% during the fourth quarter. Vident Advisory LLC now owns 289 shares of the company's stock worth $491,000 after buying an additional 50 shares during the last quarter. Toronto Dominion Bank increased its position in MercadoLibre by 9.5% during the fourth quarter. Toronto Dominion Bank now owns 6,533 shares of the company's stock worth $11,109,000 after buying an additional 566 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in MercadoLibre by 48.4% during the fourth quarter. Mackenzie Financial Corp now owns 497 shares of the company's stock worth $845,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Benchmark reissued a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. Finally, Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Trading Up 1.4%

NASDAQ MELI opened at $2,494.35 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a market cap of $126.46 billion, a price-to-earnings ratio of 61.60, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. The business's fifty day moving average is $2,385.80 and its 200 day moving average is $2,324.24.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results 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). The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the business earned $10.48 earnings per share. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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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