Pinnacle Wealth Planning Services Inc. Takes Position in MercadoLibre, Inc. $MELI

Key Points

• Pinnacle Wealth Planning Services Inc. has made a new investment of approximately $242,000 in MercadoLibre, Inc. (NASDAQ:MELI), purchasing 124 shares in the first quarter according to its recent SEC filing.
• Major hedge funds, including Banco Santander S.A. and Prospect Financial Services LLC, have significantly increased their stakes in MercadoLibre, contributing to institutional investors owning 87.62% of the company's stock.
• Research analysts have a generally positive outlook on MercadoLibre, with an average target price of $2,817.22 and ratings indicating a "Moderate Buy" consensus among multiple firms.

Pinnacle Wealth Planning Services Inc. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 124 shares of the company's stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Key Financial Inc bought a new stake in shares of MercadoLibre during the first quarter valued at about $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $26,000. Close Asset Management Ltd increased its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after buying an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 2.1%

NASDAQ:MELI traded down $51.60 on Friday, hitting $2,366.20. 280,266 shares of the stock were exchanged, compared to its average volume of 386,925. The stock has a fifty day moving average of $2,404.92 and a 200-day moving average of $2,297.62. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market cap of $119.97 billion, a PE ratio of 58.37, a PEG ratio of 1.54 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company's revenue was up 33.8% compared to the same quarter last year. During the same quarter 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 fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MELI shares. Benchmark reiterated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Daiwa Capital Markets began coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

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.