WNY Asset Management LLC Has $2.26 Million Stock Holdings in MercadoLibre, Inc. $MELI

WNY Asset Management LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 866 shares of the company’s stock after selling 12 shares during the quarter. WNY Asset Management LLC’s holdings in MercadoLibre were worth $2,263,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Key Financial Inc acquired a new stake in MercadoLibre in the first quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd raised its holdings in shares of 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 acquiring an additional 11 shares during the period. Highline Wealth Partners LLC raised its holdings in shares of 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 acquiring an additional 11 shares during the period. Finally, Brooklyn Investment Group raised its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on MELI shares. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Benchmark reaffirmed a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, October 21st. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Barclays decreased their target price on shares of 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. One research 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. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Stock Performance

Shares of MELI opened at $2,290.14 on Wednesday. The firm has a 50-day moving average of $2,312.95 and a 200-day moving average of $2,366.69. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a market cap of $116.11 billion, a PE ratio of 56.56, a price-to-earnings-growth ratio of 1.55 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 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 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 the consensus estimate of $6.57 billion. During the same period last year, the business earned $10.48 EPS. The business’s revenue was up 33.8% on a year-over-year basis. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.