Bulltick Wealth Management LLC Has $9.10 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Bulltick Wealth Management LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,537 shares of the company’s stock after buying an additional 1,190 shares during the period. MercadoLibre comprises about 2.2% of Bulltick Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Bulltick Wealth Management LLC’s holdings in MercadoLibre were worth $9,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MELI. First PREMIER Bank acquired a new position in MercadoLibre during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. DSM Capital Partners LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $36,000. Scarborough Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. bought a new position in MercadoLibre in the 2nd quarter valued at approximately $36,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price target for the company. BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Citigroup lifted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Price Performance

MELI stock opened at $2,103.75 on Friday. 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 firm has a market cap of $106.65 billion, a price-to-earnings ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The company’s fifty day simple moving average is $1,899.17 and its 200 day simple moving average is $1,690.40. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.16 EPS. On average, analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

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.