MercadoLibre, Inc. $MELI Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.0% in the second quarter, HoldingsChannel.com reports. The firm owned 148 shares of the company’s stock after buying an additional 35 shares during the period. Resonant Capital Advisors LLC’s holdings in MercadoLibre were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Optimize Financial Inc lifted its holdings in shares of MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after buying an additional 4 shares during the period. Range Financial Group LLC raised its position in MercadoLibre by 2.7% in the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after acquiring an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in MercadoLibre by 26.3% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after acquiring an additional 5 shares during the last quarter. Forum Financial Management LP lifted its holdings in MercadoLibre by 3.1% in the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock valued at $388,000 after acquiring an additional 6 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of MercadoLibre by 37.5% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock valued at $43,000 after purchasing an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on MELI. Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays cut their price objective on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Benchmark restated a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, October 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. One research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,799.12.

MercadoLibre Stock Up 5.6%

NASDAQ:MELI opened at $2,282.32 on Tuesday. The business’s fifty day moving average price is $2,314.00 and its 200 day moving average price is $2,364.20. The firm has a market capitalization of $115.71 billion, a price-to-earnings ratio of 56.37, a PEG ratio of 1.47 and a beta of 1.46. 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, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business 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 business posted $10.48 earnings per share. The company’s revenue was up 33.8% compared to the same quarter last year. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share 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.