Skyline Advisors Inc. Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Skyline Advisors Inc. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 103 shares of the company’s stock, valued at approximately $212,000.

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

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,963.23 on Tuesday. The company has a market capitalization of $99.53 billion, a price-to-earnings ratio of 87.84, a P/E/G ratio of 1.34 and a beta of 1.61. The firm’s 50 day simple moving average is $1,975.39 and its 200 day simple moving average is $1,729.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its 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. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the business earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MELI shares. Morgan Stanley increased their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Susquehanna increased their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. BTIG Research increased their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 price objective on shares of MercadoLibre in a report on Monday. Finally, Barclays increased their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.