Gateway Advisory LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 422 shares of the company’s stock, valued at approximately $500,000.
A number of other large investors have also added to or reduced their stakes in MELI. Raymond James Trust N.A. acquired a new position in MercadoLibre during the 1st quarter worth about $236,000. Cibc World Market Inc. lifted its stake in shares of MercadoLibre by 6.1% in the first quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock worth $784,000 after acquiring an additional 38 shares during the period. Dimensional Fund Advisors LP increased its position in MercadoLibre by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock valued at $225,000 after purchasing an additional 15 shares during the period. Blair William & Co. IL lifted its position in shares of MercadoLibre by 10.1% in the 1st quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock worth $3,423,000 after purchasing an additional 264 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of MercadoLibre by 25.1% during the first quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock worth $1,247,000 after buying an additional 210 shares during the period. Institutional investors own 80.01% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on MELI shares. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $1,910.00 to $2,180.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. TheStreet raised MercadoLibre from a “c+” rating to a “b-” rating in a research note on Wednesday, September 6th. Barclays boosted their price target on MercadoLibre from $1,575.00 to $1,625.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Credit Suisse Group raised their price objective on shares of MercadoLibre from $1,730.00 to $1,760.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Finally, Jefferies Financial Group dropped their target price on shares of MercadoLibre from $1,400.00 to $1,300.00 and set a “hold” rating on the stock in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $1,643.21.
MercadoLibre Stock Down 1.5 %
Shares of NASDAQ MELI traded down $21.55 during mid-day trading on Friday, reaching $1,448.00. 504,104 shares of the company’s stock traded hands, compared to its average volume of 440,980. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 1.24. The business has a 50-day simple moving average of $1,296.52 and a 200 day simple moving average of $1,267.20. The stock has a market cap of $73.21 billion, a P/E ratio of 74.10, a PEG ratio of 1.44 and a beta of 1.54. MercadoLibre, Inc. has a 1-year low of $815.85 and a 1-year high of $1,485.95.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The company reported $7.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.88 by $1.28. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.57 billion. MercadoLibre had a return on equity of 44.56% and a net margin of 7.47%. The company’s quarterly revenue was up 43.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.56 EPS. On average, analysts expect that MercadoLibre, Inc. will post 21.83 EPS for the current fiscal year.
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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