100 Shares in MercadoLibre, Inc. $MELI Acquired by Cottonwood Capital Advisors LLC

Cottonwood Capital Advisors LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel reports. The fund acquired 100 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ninety One North America Inc. boosted its stake in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after acquiring an additional 1,080 shares during the last quarter. Banco Santander S.A. boosted its stake in MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after acquiring an additional 1,893 shares during the last quarter. Stratos Investment Management LLC bought a new position in MercadoLibre during the 1st quarter worth approximately $203,000. Costello Asset Management INC boosted its stake in MercadoLibre by 434.3% during the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock worth $1,509,000 after acquiring an additional 469 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock worth $5,899,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,024.98 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a market capitalization of $102.66 billion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.46. The firm’s 50 day moving average is $2,336.31 and its 200-day moving average is $2,346.74.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Benchmark restated a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Susquehanna dropped their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. Finally, Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,810.88.

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.