Venture Visionary Partners LLC Grows Position in MercadoLibre, Inc. $MELI

Key Points

• Venture Visionary Partners LLC has increased its holdings in MercadoLibre, Inc. by 9.2%, now owning 1,937 shares worth approximately $5.06 million.
• MercadoLibre reported a quarterly EPS of $10.31, missing analysts' estimates, but its revenue grew by 33.8% year-over-year to $6.79 billion.
• Analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with an average target price of $2,828.33, indicating strong confidence in the stock's potential.

Venture Visionary Partners LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,937 shares of the company's stock after purchasing an additional 163 shares during the quarter. Venture Visionary Partners LLC's holdings in MercadoLibre were worth $5,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banco Santander S.A. lifted its stake in shares of MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after purchasing an additional 1,893 shares during the period. Prospect Financial Services LLC lifted its stake in shares of MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after purchasing an additional 100 shares during the period. Stratos Investment Management LLC purchased a new position in MercadoLibre during the first quarter valued at $203,000. Ground Swell Capital LLC purchased a new position in MercadoLibre during the first quarter valued at $439,000. Finally, Alta Capital Management LLC raised its stake in MercadoLibre by 97.9% during the first quarter. Alta Capital Management LLC now owns 14,728 shares of the company's stock valued at $28,732,000 after buying an additional 7,284 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MELI shares. Benchmark reiterated a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays lowered their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Scotiabank started coverage on MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective for the company. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,828.33.

MercadoLibre Stock Up 1.3%

MercadoLibre stock opened at $2,501.31 on Tuesday. The firm has a market cap of $126.81 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 1.61 and a beta of 1.49. The stock has a fifty day simple moving average of $2,394.29 and a two-hundred day simple moving average of $2,340.65. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. 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 (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 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 firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the business posted $10.48 EPS. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.

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