Cerity Partners LLC Has $241,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Cerity Partners LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 65.0% in the second quarter, Holdings Channel reports. The firm owned 424 shares of the company’s stock after purchasing an additional 167 shares during the period. Cerity Partners LLC’s holdings in MercadoLibre were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MELI. FinTrust Capital Advisors LLC grew its holdings in MercadoLibre by 120.0% during the second quarter. FinTrust Capital Advisors LLC now owns 33 shares of the company’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Prospera Financial Services Inc bought a new position in MercadoLibre in the first quarter valued at approximately $31,000. San Luis Wealth Advisors LLC bought a new position in MercadoLibre in the first quarter valued at approximately $31,000. Glassman Wealth Services lifted its stake in MercadoLibre by 127.3% in the second quarter. Glassman Wealth Services now owns 50 shares of the company’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. Finally, Amalgamated Bank bought a new position in MercadoLibre in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.00% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $963.03 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.31 and a debt-to-equity ratio of 1.68. The firm’s fifty day moving average price is $887.79 and its two-hundred day moving average price is $832.03. MercadoLibre, Inc. has a 1 year low of $600.68 and a 1 year high of $1,435.00. The firm has a market capitalization of $48.44 billion, a P/E ratio of 179.34 and a beta of 1.56.

MercadoLibre (NASDAQ:MELIGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.25. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre, Inc. will post 8.16 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of MercadoLibre in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group cut their price target on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating on the stock in a research note on Monday, October 31st. Jefferies Financial Group cut their price target on shares of MercadoLibre from $990.00 to $970.00 and set a “hold” rating on the stock in a research note on Thursday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,300.00 to $1,350.00 in a research note on Monday, August 8th. Finally, Citigroup cut their price objective on shares of MercadoLibre from $1,150.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,317.00.

About MercadoLibre

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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