Creative Planning Has $9.90 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Creative Planning boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 44.6% in the second quarter, Holdings Channel reports. The firm owned 6,027 shares of the company’s stock after purchasing an additional 1,859 shares during the quarter. Creative Planning’s holdings in MercadoLibre were worth $9,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First PREMIER Bank acquired a new position in shares of MercadoLibre in the 1st quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. raised its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Scarborough Advisors LLC bought a new stake in MercadoLibre during the fourth quarter worth $36,000. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at $36,000. Finally, Transcendent Capital Group LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at $38,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.7 %

Shares of MELI stock opened at $2,066.12 on Wednesday. The stock has a 50-day moving average of $1,955.98 and a 200-day moving average of $1,720.04. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market cap of $104.75 billion, a price-to-earnings ratio of 92.44, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $5.16 EPS. The company’s revenue was up 41.5% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Susquehanna upped their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Citigroup raised their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BTIG Research lifted their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Barclays increased their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,217.50.

MercadoLibre 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.