Frank Rimerman Advisors LLC Takes $1.22 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Frank Rimerman Advisors LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 743 shares of the company’s stock, valued at approximately $1,221,000.

A number of other hedge funds have also modified their holdings of MELI. First PREMIER Bank acquired a new stake in shares of MercadoLibre in the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% in the second 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 during the period. DSM Capital Partners LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $36,000. Scarborough Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $36,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the second quarter valued at about $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on MELI. Barclays upped their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Cantor Fitzgerald started coverage on shares of MercadoLibre in a report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price objective for the company. Morgan Stanley increased their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. BTIG Research increased their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,207.31.

MercadoLibre Trading Down 0.3 %

NASDAQ MELI opened at $2,103.75 on Monday. The firm has a 50 day simple moving average of $1,899.17 and a 200-day simple moving average of $1,692.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,157.64. The firm has a market cap of $106.65 billion, a price-to-earnings ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its 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 firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.16 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

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.