MercadoLibre, Inc. $MELI Shares Acquired by IFP Advisors Inc

Key Points

• IFP Advisors increased its MercadoLibre stake by 56.2% in the second quarter, bringing its holdings to 2,525 shares valued at approximately $4.29 million. Institutional investors collectively own 87.62% of MELI’s outstanding stock.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, while EPS of $9.19 exceeded analyst expectations of $8.65.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $2,272, despite several firms assigning neutral or hold ratings.

IFP Advisors Inc grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 56.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,525 shares of the company's stock after acquiring an additional 908 shares during the period. IFP Advisors Inc's holdings in MercadoLibre were worth $4,286,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre in the 4th quarter valued at $28,000. Wedbush Fund Advisers LLC purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth about $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Up 1.6%

MELI opened at $1,906.24 on Friday. The business has a fifty day moving average price of $1,875.45 and a 200 day moving average price of $1,767.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The stock has a market capitalization of $96.65 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 1.29 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the company earned $10.31 EPS. MercadoLibre's revenue for the quarter was up 49.8% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MELI shares. Citigroup lifted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. BTIG Research reissued a "buy" rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, September 3rd. Finally, Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,272.00.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.

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