NTV Asset Management LLC Buys New Shares in MercadoLibre, Inc. $MELI

NTV Asset Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 100 shares of the company’s stock, valued at approximately $261,000.

Other large investors also recently modified their holdings of the company. Key Financial Inc bought a new stake in MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd raised its stake in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of MercadoLibre by 366.7% in the 2nd 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 stake in shares of MercadoLibre by 650.0% in 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 in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 3.3%

Shares of NASDAQ MELI opened at $2,172.75 on Friday. The stock has a market capitalization of $110.16 billion, a P/E ratio of 53.66, a PEG ratio of 1.44 and a beta of 1.46. The stock’s fifty day moving average is $2,382.29 and its 200 day moving average is $2,343.55. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MELI. JPMorgan Chase & Co. dropped 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 research report on Friday. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank initiated coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price for the company. Susquehanna reiterated a “positive” rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,822.78.

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.