MercadoLibre, Inc. $MELI Shares Purchased by IFP Advisors Inc

IFP Advisors Inc boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 56.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,525 shares of the company’s stock after purchasing an additional 908 shares during the quarter. IFP Advisors Inc’s holdings in MercadoLibre were worth $4,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in shares of MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after buying an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after acquiring an additional 1,430 shares in the last quarter. CORDA Investment Management LLC. purchased a new position in shares of MercadoLibre during the second quarter worth about $1,241,000. TIAA Trust National Association increased its position in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Finally, Deepwater Asset Management LLC lifted its holdings in shares of MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Trading Up 1.6%

Shares of MELI stock opened at $1,906.24 on Friday. The business’s 50 day moving average is $1,875.45 and its two-hundred day moving average is $1,767.40. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a market capitalization of $96.65 billion, a P/E ratio of 51.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the business earned $10.31 earnings per share. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.