Atria Investments Inc Increases Position in MercadoLibre, Inc. $MELI

Atria Investments Inc boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 9.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,879 shares of the company’s stock after purchasing an additional 240 shares during the quarter. Atria Investments Inc’s holdings in MercadoLibre were worth $7,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Key Financial Inc purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd grew 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 valued at $27,000 after buying an additional 11 shares during the last quarter. Highline Wealth Partners LLC grew 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 valued at $37,000 after buying an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group grew 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 valued at $29,000 after buying an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MELI. Benchmark cut their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna cut their price target 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. JPMorgan Chase & Co. cut their price target 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 reiterated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,796.47.

MercadoLibre Stock Down 1.3%

Shares of MercadoLibre stock opened at $2,328.90 on Friday. The company has a market cap of $118.08 billion, a price-to-earnings ratio of 56.83, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. The company’s 50 day moving average is $2,310.58 and its 200 day moving average is $2,370.75. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. 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 (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter last year, the company earned $7.83 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current 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.