Creative Planning Acquires 1,859 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Creative Planning increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 44.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,027 shares of the company’s stock after purchasing an additional 1,859 shares during the period. Creative Planning’s holdings in MercadoLibre were worth $9,904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. First PREMIER Bank acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the period. Scarborough Advisors LLC bought a new position in MercadoLibre during the 4th quarter worth about $36,000. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at about $36,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at about $38,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays lifted their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Bank of America lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Citigroup lifted their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,217.50.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,066.12 on Wednesday. The stock has a 50 day simple moving average of $1,955.98 and a 200 day simple moving average of $1,720.04. The stock has a market cap of $104.75 billion, a P/E ratio of 92.44, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. Research analysts anticipate that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

MercadoLibre Company Profile

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.