MercadoLibre, Inc. $MELI Shares Purchased by Chokshi & Queen Wealth Advisors Inc

Chokshi & Queen Wealth Advisors Inc increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 279 shares of the company’s stock after purchasing an additional 36 shares during the quarter. Chokshi & Queen Wealth Advisors Inc’s holdings in MercadoLibre were worth $729,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Key Financial Inc acquired a new position in MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd increased its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Highline Wealth Partners LLC increased its position in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,142.05 on Wednesday. The firm has a market capitalization of $108.60 billion, a P/E ratio of 52.90, a PEG ratio of 1.42 and a beta of 1.46. The stock has a fifty day moving average price of $2,328.33 and a 200 day moving average price of $2,352.79. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

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

Analyst Ratings Changes

MELI has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. Susquehanna dropped their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Cantor Fitzgerald raised their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, Benchmark reissued a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,799.12.

MercadoLibre 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.