Lewis Asset Management LLC Takes $457,000 Position in MercadoLibre, Inc. $MELI

Key Points

• Lewis Asset Management LLC has acquired a new stake in MercadoLibre, purchasing 175 shares valued at approximately $457,000 in the 2nd quarter.
• Institutional investors own 87.62% of MercadoLibre's stock, indicating strong institutional confidence in the company, with several firms significantly increasing their holdings.
• Brokerages suggest a positive outlook, with ratings ranging from "buy" to "overweight," and a consensus price target of $2,817.22 for the stock.

Lewis Asset Management LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 175 shares of the company's stock, valued at approximately $457,000.

A number of other hedge funds have also recently bought and sold shares of MELI. Key Financial Inc acquired a new stake in shares of MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new position in MercadoLibre in the 4th quarter valued at approximately $26,000. Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Daiwa Capital Markets started coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. Barclays reduced their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Citigroup dropped their target price on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued 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 target price of $2,817.22.

MercadoLibre Trading Up 0.3%

MELI traded up $8.32 during midday trading on Monday, hitting $2,460.66. The company's stock had a trading volume of 288,337 shares, compared to its average volume of 366,672. The firm has a market cap of $124.76 billion, a P/E ratio of 60.77, a PEG ratio of 1.60 and a beta of 1.49. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The firm has a 50-day moving average price of $2,383.72 and a two-hundred day moving average price of $2,323.05. 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 released its quarterly 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 business had revenue of $6.79 billion during 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 company's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.48 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.