Solidarity Wealth LLC Has $975,000 Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Solidarity Wealth LLC increased its position in MercadoLibre by 66.7%, holding 500 shares valued at approximately $975,000.
• Analysts have mixed ratings for MercadoLibre, with a consensus target price of $2,639.69, reflecting a mix of "buy," "hold," and "sell" ratings.
• MercadoLibre reported a quarterly revenue increase of 37% year-over-year, with an EPS of $9.74 that exceeded estimates by $1.92.

Solidarity Wealth LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 66.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 500 shares of the company's stock after purchasing an additional 200 shares during the period. Solidarity Wealth LLC's holdings in MercadoLibre were worth $975,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Key Financial Inc bought a new position in MercadoLibre in the 1st quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre in the 1st quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Covestor Ltd bought a new stake in shares of MercadoLibre during the fourth quarter worth $27,000. Finally, Close Asset Management Ltd lifted its stake in shares of MercadoLibre by 366.7% during the first 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. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MELI shares. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Barclays cut their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,690.29.

MercadoLibre Stock Down 0.8%

Shares of MELI traded down $19.18 during midday trading on Thursday, hitting $2,362.22. The stock had a trading volume of 134,538 shares, compared to its average volume of 388,481. The firm has a market cap of $119.76 billion, a price-to-earnings ratio of 58.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The company has a 50 day simple moving average of $2,463.12 and a two-hundred day simple moving average of $2,215.13. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. During the same period last year, the company earned $6.78 earnings per share. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.