MercadoLibre, Inc. $MELI Shares Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its holdings in MercadoLibre by 37.5%, purchasing an additional 160 shares, bringing their total ownership to 587 shares valued at approximately $1.53 million.
• MercadoLibre's latest earnings report showed a miss on EPS estimates, with reported earnings of $10.31 versus the expected $12.01, although revenue increased by 33.8% year-over-year to $6.79 billion.
• Analyst ratings on MercadoLibre show a consensus of "Moderate Buy," with target price forecasts ranging from $2,700 to $2,900, reflecting ongoing positive sentiment among analysts despite the recent earnings miss.

Ritholtz Wealth Management grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 37.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 587 shares of the company's stock after buying an additional 160 shares during the period. Ritholtz Wealth Management's holdings in MercadoLibre were worth $1,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MELI. Key Financial Inc acquired a new stake in MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd increased its position 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 purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group increased its position 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 purchasing an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in MercadoLibre during the first quarter worth about $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 0.9%

Shares of MELI stock opened at $2,024.98 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market cap of $102.66 billion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.46. The company has a 50-day moving average of $2,336.31 and a two-hundred day moving average of $2,346.74. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same period last year, the business earned $10.48 EPS. The company's quarterly revenue was up 33.8% compared to the same quarter last year. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Citigroup cut their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a research report on Thursday, October 9th. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna lowered their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a "positive" rating for the company in a research note on Monday, October 13th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $2,810.88.

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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