GM Advisory Group LLC Acquires New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

GM Advisory Group LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 124 shares of the company’s stock, valued at approximately $204,000.

A number of other large investors also recently bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. raised its position in 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 in the last quarter. First PREMIER Bank bought a new stake in MercadoLibre during the 1st quarter valued at $27,000. Financial Connections Group Inc. bought a new stake in MercadoLibre during the 2nd quarter valued at $36,000. DSM Capital Partners LLC bought a new stake in MercadoLibre during the 4th quarter valued at $36,000. Finally, Scarborough Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.3 %

Shares of NASDAQ:MELI opened at $2,103.75 on Friday. The business’s 50-day moving average is $1,899.17 and its 200 day moving average is $1,690.40. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,157.64. The firm has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

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

Wall Street Analyst Weigh In

MELI has been the subject of several recent research reports. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. BTIG Research boosted their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Barclays boosted their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Two equities research 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,207.31.

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.