97 Shares in MercadoLibre, Inc. $MELI Bought by Valmark Advisers Inc.

Valmark Advisers Inc. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 97 shares of the company’s stock, valued at approximately $254,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Triasima Portfolio Management inc. lifted its stake in MercadoLibre by 9.4% in the second quarter. Triasima Portfolio Management inc. now owns 3,200 shares of the company’s stock valued at $8,364,000 after buying an additional 275 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in MercadoLibre by 4.0% in the second quarter. Venturi Wealth Management LLC now owns 1,615 shares of the company’s stock valued at $4,221,000 after buying an additional 62 shares during the last quarter. Canopy Partners LLC bought a new stake in MercadoLibre in the second quarter valued at $382,000. Independent Solutions Wealth Management LLC lifted its stake in MercadoLibre by 2.7% in the second quarter. Independent Solutions Wealth Management LLC now owns 871 shares of the company’s stock valued at $2,276,000 after buying an additional 23 shares during the last quarter. Finally, Shell Asset Management Co. lifted its stake in MercadoLibre by 23.5% in the second quarter. Shell Asset Management Co. now owns 2,620 shares of the company’s stock valued at $6,848,000 after buying an additional 498 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MELI. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday. Citigroup lowered their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald raised their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Finally, Benchmark reissued a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a report 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,815.29.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,133.67 on Friday. The business’s 50-day moving average price is $2,363.50 and its 200 day moving average price is $2,344.22. The firm has a market cap of $108.18 billion, a P/E ratio of 52.70, a PEG ratio of 1.52 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.MercadoLibre’s revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.48 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.