MercadoLibre, Inc. $MELI Shares Bought by Valeo Financial Advisors LLC

Key Points

• Valeo Financial Advisors LLC increased its stake in MercadoLibre by an astonishing 17,665.1%, acquiring 65,361 additional shares to reach a total of 65,731 shares, representing approximately $171.8 million.
• Research firms have been positive about MercadoLibre, with Susquehanna raising its price target from $2,840 to $2,975 and Daiwa Capital Markets initiating coverage with a $3,000 price objective.
• Despite a strong revenue growth of 33.8% year-over-year in the last quarter, MercadoLibre reported earnings per share of $10.31, which was below analysts' estimates of $12.01.

Valeo Financial Advisors LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17,665.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 65,731 shares of the company's stock after purchasing an additional 65,361 shares during the period. MercadoLibre accounts for about 0.5% of Valeo Financial Advisors LLC's holdings, making the stock its 26th biggest holding. Valeo Financial Advisors LLC owned 0.13% of MercadoLibre worth $171,797,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter worth $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd increased its position in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the period. Brooklyn Investment Group raised its stake in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in MercadoLibre during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MELI. Susquehanna restated a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Weiss Ratings reissued a "buy (b)" rating on shares of MercadoLibre in a report on Saturday, September 27th. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective on the stock. Cantor Fitzgerald increased their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Finally, Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,822.78.

MercadoLibre Stock Down 3.3%

MercadoLibre stock opened at $2,172.75 on Monday. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a market capitalization of $110.15 billion, a P/E ratio of 53.66, a P/E/G ratio of 1.45 and a beta of 1.46. The company has a 50-day simple moving average of $2,382.29 and a 200-day simple moving average of $2,345.48.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business's quarterly revenue was up 33.8% compared to the same quarter last year. During the same period last year, the company earned $10.48 earnings per share. As a group, equities analysts expect 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.

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