Atomi Financial Group Inc. Has $2.04 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Atomi Financial Group Inc. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 234.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 993 shares of the company’s stock after acquiring an additional 696 shares during the period. Atomi Financial Group Inc.’s holdings in MercadoLibre were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its position in MercadoLibre by 11.7% in the third quarter. Dynamic Advisor Solutions LLC now owns 935 shares of the company’s stock valued at $1,919,000 after buying an additional 98 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of MercadoLibre by 14.9% in the third quarter. Alpha Cubed Investments LLC now owns 231 shares of the company’s stock worth $474,000 after purchasing an additional 30 shares during the last quarter. Skyline Advisors Inc. bought a new stake in shares of MercadoLibre in the third quarter worth $212,000. Kesler Norman & Wride LLC acquired a new stake in MercadoLibre in the third quarter valued at $835,000. Finally, Atwood & Palmer Inc. raised its position in MercadoLibre by 2.8% during the 3rd quarter. Atwood & Palmer Inc. now owns 8,664 shares of the company’s stock worth $17,778,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,014.23 on Wednesday. The firm’s 50-day moving average price is $1,982.23 and its 200-day moving average price is $1,732.30. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The firm has a market capitalization of $102.12 billion, a P/E ratio of 90.12, a P/E/G ratio of 1.34 and a beta of 1.61. 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 net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business posted $5.16 EPS. The firm’s revenue was up 41.5% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 35.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on MELI. BTIG Research upped their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. 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 report on Friday, September 20th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a report on Wednesday, October 2nd. Bank of America upped their price objective on shares of 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, 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 research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,246.07.

MercadoLibre 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.