Kesler Norman & Wride LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Kesler Norman & Wride LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 407 shares of the company’s stock, valued at approximately $835,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atwood & Palmer Inc. grew its holdings in MercadoLibre by 2.8% during the third 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 period. Miracle Mile Advisors LLC bought a new position in shares of MercadoLibre during the 3rd quarter worth approximately $275,000. Handelsbanken Fonder AB boosted its stake in shares of MercadoLibre by 2.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 22,191 shares of the company’s stock worth $45,535,000 after acquiring an additional 457 shares during the period. Grandview Asset Management LLC acquired a new position in shares of MercadoLibre during the 3rd quarter worth approximately $230,000. Finally, Waycross Investment Management Co raised its stake in MercadoLibre by 1.4% in the 3rd quarter. Waycross Investment Management Co now owns 574 shares of the company’s stock valued at $1,178,000 after acquiring an additional 8 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.6 %

Shares of MercadoLibre stock opened at $2,014.23 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,161.73. The company has a market capitalization of $102.12 billion, a price-to-earnings ratio of 89.42, a PEG ratio of 1.34 and a beta of 1.61. The firm’s 50-day moving average price is $1,982.23 and its two-hundred day moving average price is $1,732.30.

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

Wall Street Analyst Weigh In

MELI has been the topic of several research reports. Susquehanna upped their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Morgan Stanley increased their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Barclays boosted their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, BTIG Research lifted their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,246.07.

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.