Wedmont Private Capital Purchases Shares of 103 MercadoLibre, Inc. $MELI

Key Points

• Wedmont Private Capital acquired a new stake in MercadoLibre, Inc., purchasing 103 shares valued at approximately $255,000 during the second quarter.
• Institutional investors now hold 87.62% of MercadoLibre's stock, highlighting significant institutional interest in the company.
• MercadoLibre reported a quarterly earnings miss with an EPS of $10.31, falling short of analysts' expectations of $12.01, but achieved a revenue of $6.79 billion.

Wedmont Private Capital purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 103 shares of the company's stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MELI. Bank Pictet & Cie Europe AG bought a new stake in MercadoLibre in the 4th quarter valued at $561,000. Bison Wealth LLC bought a new stake in MercadoLibre in the 4th quarter valued at $206,000. Vident Advisory LLC increased its holdings in MercadoLibre by 20.9% in the 4th quarter. Vident Advisory LLC now owns 289 shares of the company's stock valued at $491,000 after buying an additional 50 shares during the period. Waverly Advisors LLC increased its holdings in MercadoLibre by 79.8% in the 4th quarter. Waverly Advisors LLC now owns 232 shares of the company's stock valued at $394,000 after buying an additional 103 shares during the period. Finally, Sunbelt Securities Inc. increased its holdings in MercadoLibre by 20.0% in the 4th quarter. Sunbelt Securities Inc. now owns 210 shares of the company's stock valued at $362,000 after buying an additional 35 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,452.34 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market cap of $124.33 billion, a PE ratio of 60.57, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. The stock has a 50-day moving average of $2,382.11 and a 200-day moving average of $2,319.89. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly 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 company had revenue of $6.79 billion during 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 business's revenue was up 33.8% compared to the same quarter last year. During the same period last year, the company earned $10.48 earnings per share. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Benchmark restated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

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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