MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Activest Wealth Management

Activest Wealth Management boosted its stake in MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 1,122.2% in the second quarter, Holdings Channel.com reports. The fund owned 110 shares of the company’s stock after buying an additional 101 shares during the quarter. Activest Wealth Management’s holdings in MercadoLibre were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. United Asset Strategies Inc. grew its stake in MercadoLibre by 5.8% during the 1st quarter. United Asset Strategies Inc. now owns 182 shares of the company’s stock worth $216,000 after buying an additional 10 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in MercadoLibre by 0.4% during the 1st quarter. Gateway Investment Advisers LLC now owns 2,648 shares of the company’s stock worth $3,150,000 after buying an additional 11 shares during the last quarter. Aberdeen Wealth Management LLC grew its stake in MercadoLibre by 8.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 152 shares of the company’s stock worth $205,000 after buying an additional 12 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in MercadoLibre by 4.7% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 268 shares of the company’s stock worth $319,000 after buying an additional 12 shares during the last quarter. Finally, Tamar Securities LLC grew its stake in MercadoLibre by 6.7% during the 1st quarter. Tamar Securities LLC now owns 192 shares of the company’s stock worth $228,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 89.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MELI. Citigroup dropped their price target on MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating on the stock in a research note on Thursday, June 9th. Jefferies Financial Group lowered their target price on MercadoLibre from $850.00 to $800.00 in a research note on Thursday, July 21st. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,300.00 to $1,350.00 in a research note on Monday, August 8th. Stifel Nicolaus lowered their target price on MercadoLibre from $1,200.00 to $1,000.00 in a research note on Friday, July 15th. Finally, Barclays lowered their target price on MercadoLibre from $1,500.00 to $1,250.00 and set an “overweight” rating on the stock in a research note on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $1,388.18.

MercadoLibre Price Performance

MELI stock traded down $36.31 during midday trading on Friday, hitting $813.69. 16,625 shares of the stock were exchanged, compared to its average volume of 578,568. The stock’s 50-day moving average price is $895.80 and its 200-day moving average price is $896.92. The stock has a market cap of $40.96 billion, a price-to-earnings ratio of 173.30 and a beta of 1.63. MercadoLibre, Inc. has a fifty-two week low of $600.68 and a fifty-two week high of $1,913.77. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.27 and a current ratio of 1.30.

MercadoLibre (NASDAQ:MELIGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.75. MercadoLibre had a return on equity of 19.66% and a net margin of 2.68%. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 7.78 earnings per share for the current year.

MercadoLibre Company Profile

(Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

Read More

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELIGet Rating).

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.