Total Clarity Wealth Management Inc. Purchases 76 Shares of MercadoLibre, Inc. $MELI

Total Clarity Wealth Management Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 53.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217 shares of the company’s stock after purchasing an additional 76 shares during the period. Total Clarity Wealth Management Inc.’s holdings in MercadoLibre were worth $567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Key Financial Inc bought a new position in shares of MercadoLibre in the 1st quarter worth $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the 1st quarter worth $25,000. Close Asset Management Ltd boosted its position in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC boosted its position in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Benchmark reaffirmed a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays dropped their price objective on 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. Finally, Susquehanna dropped their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,810.88.

MercadoLibre Stock Performance

MELI opened at $2,175.91 on Tuesday. The business’s 50-day moving average price is $2,359.10 and its two-hundred day moving average price is $2,348.74. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a market capitalization of $110.32 billion, a price-to-earnings ratio of 53.74, a P/E/G ratio of 1.43 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the business earned $10.48 EPS. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.