MercadoLibre, Inc. $MELI Shares Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 193.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 915 shares of the company’s stock after purchasing an additional 603 shares during the quarter. GC Wealth Management RIA LLC’s holdings in MercadoLibre were worth $2,391,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Key Financial Inc acquired a new position in MercadoLibre in the first quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the first quarter valued at $25,000. Close Asset Management Ltd increased its stake in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group increased its stake in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new position in MercadoLibre in the first quarter valued at $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 1.0%

Shares of MercadoLibre stock opened at $2,468.42 on Monday. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $2,391.84 and its 200-day simple moving average is $2,337.29. The firm has a market cap of $125.15 billion, a price-to-earnings ratio of 60.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the company posted $10.48 earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on MELI. Barclays dropped their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Susquehanna reiterated a “positive” rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. Scotiabank began coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. Finally, Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,828.33.

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.