Contravisory Investment Management Inc. Takes $143,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Contravisory Investment Management Inc. acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 121 shares of the company’s stock, valued at approximately $143,000.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 185.7% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 20 shares of the company’s stock valued at $25,000 after purchasing an additional 13 shares in the last quarter. NewSquare Capital LLC grew its holdings in shares of MercadoLibre by 900.0% in the first quarter. NewSquare Capital LLC now owns 20 shares of the company’s stock valued at $26,000 after purchasing an additional 18 shares in the last quarter. Sageworth Trust Co acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $30,000. Pacifica Partners Inc. acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $31,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

MercadoLibre Stock Down 0.9 %

Shares of NASDAQ:MELI opened at $1,383.73 on Tuesday. MercadoLibre, Inc. has a 1-year low of $754.76 and a 1-year high of $1,451.56. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.25. The stock has a market cap of $69.31 billion, a P/E ratio of 92.62, a P/E/G ratio of 1.45 and a beta of 1.51. The firm has a fifty day moving average price of $1,276.27 and a 200 day moving average price of $1,254.90.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.13 by $1.03. MercadoLibre had a return on equity of 39.07% and a net margin of 6.23%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The firm’s revenue for the quarter was up 31.5% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 20.56 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. Susquehanna lifted their price objective on shares of MercadoLibre from $1,500.00 to $1,620.00 and gave the company a “positive” rating in a report on Monday. Wolfe Research lowered their price target on shares of MercadoLibre from $1,700.00 to $1,400.00 in a report on Monday, July 10th. Wedbush initiated coverage on shares of MercadoLibre in a report on Monday, August 21st. They set an “outperform” rating and a $1,500.00 price target for the company. Credit Suisse Group boosted their price target on shares of MercadoLibre from $1,730.00 to $1,760.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Finally, Citigroup boosted their price target on shares of MercadoLibre from $1,500.00 to $1,550.00 in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,643.21.

MercadoLibre Profile

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.