Tcfg Wealth Management LLC Boosts Holdings in MercadoLibre, Inc. $MELI

Tcfg Wealth Management LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134 shares of the company’s stock after purchasing an additional 17 shares during the period. Tcfg Wealth Management LLC’s holdings in MercadoLibre were worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its position in shares of MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after buying an additional 18,731 shares during the last quarter. Invesco Ltd. raised its position in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares during the last quarter. Generation Investment Management LLP raised its position in shares of MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after buying an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC raised its position in shares of MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,187.57 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market cap of $110.91 billion, a P/E ratio of 54.03, a PEG ratio of 1.43 and a beta of 1.46. The company has a 50-day moving average price of $2,374.35 and a 200 day moving average price of $2,344.79. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced 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). The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period last year, the business earned $10.48 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MELI shares. Susquehanna reiterated a “positive” rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Barclays reduced their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Scotiabank started coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,822.78.

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.