Grandview Asset Management LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Grandview Asset Management LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 112 shares of the company’s stock, valued at approximately $230,000.

Several other large investors have also recently modified their holdings of MELI. First PREMIER Bank acquired a new stake in MercadoLibre in the first quarter worth about $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 in the last quarter. Scarborough Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $36,000. Financial Connections Group Inc. acquired a new position in MercadoLibre during the 2nd quarter valued at approximately $36,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $38,000. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MELI. Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Barclays upped their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,246.07.

MercadoLibre Price Performance

Shares of MELI stock traded up $0.80 during mid-day trading on Friday, hitting $1,960.00. 315,878 shares of the stock were exchanged, compared to its average volume of 355,040. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $2,161.73. 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 $99.37 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The firm has a fifty day moving average of $1,975.39 and a 200 day moving average of $1,728.02.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company 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%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.16 earnings per share. 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.