MercadoLibre, Inc. $MELI Stock Position Increased by Stableford Capital II LLC

Key Points

• Stableford Capital II increased its MercadoLibre position by 34% in the third quarter, adding 649 shares for a total of 2,556 shares valued at approximately $4.42 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 87.62% of MELI shares. Several other investment firms also increased their positions.
• Analyst sentiment is favorable, with MercadoLibre carrying a consensus “Moderate Buy” rating and an average price target of $2,251.88; the company also exceeded quarterly earnings and revenue estimates.

Stableford Capital II LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 34.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,556 shares of the company's stock after buying an additional 649 shares during the period. MercadoLibre accounts for 1.5% of Stableford Capital II LLC's investment portfolio, making the stock its 15th biggest position. Stableford Capital II LLC's holdings in MercadoLibre were worth $4,418,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Total Clarity Wealth Management Inc. boosted its holdings in shares of MercadoLibre by 5.2% in the first quarter. Total Clarity Wealth Management Inc. now owns 122 shares of the company's stock worth $211,000 after acquiring an additional 6 shares during the period. Y.D. More Investments Ltd raised its stake in shares of MercadoLibre by 24.0% during the 1st quarter. Y.D. More Investments Ltd now owns 31 shares of the company's stock valued at $53,000 after purchasing an additional 6 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in MercadoLibre by 2.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company's stock worth $367,000 after purchasing an additional 6 shares in the last quarter. Moody National Bank Trust Division boosted its stake in MercadoLibre by 0.8% in the 2nd quarter. Moody National Bank Trust Division now owns 733 shares of the company's stock worth $1,244,000 after purchasing an additional 6 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in MercadoLibre by 0.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company's stock worth $2,083,000 after purchasing an additional 6 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MELI shares. Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Citigroup increased their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Finally, New Street Research began coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They issued a "buy" rating and a $2,450.00 price target for the company. Twelve 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, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average target price of $2,251.88.

MercadoLibre Price Performance

MELI stock opened at $1,856.66 on Friday. The firm has a 50 day simple moving average of $1,864.15 and a two-hundred day simple moving average of $1,774.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The stock has a market cap of $94.13 billion, a PE ratio of 50.49, a P/E/G ratio of 1.31 and a beta of 1.31. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,428.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. The firm's revenue was up 49.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.31 EPS. On average, analysts predict that MercadoLibre, Inc. will post 38.29 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc NASDAQ: MELI operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.

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