Acorn Financial Advisory Services Inc. ADV Cuts Stock Position in MercadoLibre, Inc. $MELI

Acorn Financial Advisory Services Inc. ADV lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 168 shares of the company’s stock after selling 11 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in MercadoLibre were worth $440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Key Financial Inc purchased a new stake in shares of MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre during the first quarter worth $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 worth $27,000 after buying an additional 11 shares in 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 worth $37,000 after buying an additional 11 shares in 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 worth $29,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of a number of research reports. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays dropped their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective for the company. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,810.88.

MercadoLibre Trading Up 2.0%

NASDAQ MELI opened at $2,175.91 on Tuesday. The firm’s 50-day moving average is $2,359.10 and its two-hundred day moving average is $2,348.74. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $110.32 billion, a P/E ratio of 53.74, a PEG ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last posted its earnings results 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 company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same period in the previous year, the company earned $10.48 EPS. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, sell-side analysts anticipate 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.