Pinnacle Wealth Planning Services Inc. Takes $242,000 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. acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 124 shares of the company's stock, valued at approximately $242,000.

Several other large investors have also recently made changes to their positions in MELI. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in MercadoLibre by 650.0% during the 1st 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research reports. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Citigroup cut their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Barclays cut their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Price Performance

Shares of MELI stock traded down $6.64 during trading hours on Wednesday, hitting $2,373.12. The company's stock had a trading volume of 302,149 shares, compared to its average volume of 388,303. The stock has a market cap of $120.32 billion, a price-to-earnings ratio of 58.61, a P/E/G ratio of 1.61 and a beta of 1.49. 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 twelve month low of $1,646.00 and a twelve month high of $2,645.22. The business has a fifty day moving average of $2,411.12 and a 200-day moving average of $2,294.95.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the company posted $10.48 earnings per share. The business's revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.