Private Advisor Group LLC Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Private Advisor Group LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 75.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 972 shares of the company’s stock after acquiring an additional 418 shares during the period. Private Advisor Group LLC’s holdings in MercadoLibre were worth $1,597,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System lifted its position in MercadoLibre by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 13,227 shares of the company’s stock valued at $21,737,000 after acquiring an additional 168 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of MercadoLibre by 0.7% during the second quarter. Victory Capital Management Inc. now owns 24,214 shares of the company’s stock valued at $39,793,000 after purchasing an additional 176 shares during the last quarter. Waverton Investment Management Ltd boosted its position in shares of MercadoLibre by 1.1% in the 2nd quarter. Waverton Investment Management Ltd now owns 20,599 shares of the company’s stock worth $33,865,000 after purchasing an additional 230 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in shares of MercadoLibre by 75.2% in the 2nd quarter. Hohimer Wealth Management LLC now owns 557 shares of the company’s stock worth $915,000 after buying an additional 239 shares during the last quarter. Finally, Range Financial Group LLC bought a new position in MercadoLibre during the 2nd quarter valued at approximately $230,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.8 %

MercadoLibre stock opened at $2,122.37 on Friday. The business has a 50-day simple moving average of $1,860.84 and a two-hundred day simple moving average of $1,673.21. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $2,143.96. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market cap of $107.60 billion, a P/E ratio of 94.96, a P/E/G ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share 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 business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm earned $5.16 earnings per share. The company’s quarterly revenue was up 41.5% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on MELI. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Susquehanna lifted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Cantor Fitzgerald started coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,182.92.

About MercadoLibre

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.