Asset One Wealth Management LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 408.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,680 shares of the company's stock after buying an additional 2,153 shares during the period. Asset One Wealth Management LLC's holdings in MercadoLibre were worth $4,940,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the fourth quarter worth about $28,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on MELI shares. Citigroup lifted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. UBS Group dropped their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average target price of $2,272.00.
View Our Latest Analysis on MELI
MercadoLibre Price Performance
MELI stock opened at $1,922.73 on Monday. The firm has a market cap of $97.48 billion, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The stock has a 50-day simple moving average of $1,793.05 and a 200-day simple moving average of $1,773.33.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre's revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.31 EPS. On average, equities analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.
About MercadoLibre
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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