Riverbend Wealth Management LLC Makes New Investment in MercadoLibre, Inc. $MELI

Riverbend Wealth Management LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel reports. The fund purchased 100 shares of the company’s stock, valued at approximately $261,000.

Several other large investors have also recently made changes to their positions in MELI. Invesco Ltd. lifted its stake in MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares in the last quarter. GQG Partners LLC raised its holdings in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares during the period. Nuveen LLC purchased a new stake in shares of MercadoLibre in the 1st quarter valued at $143,367,000. Finally, Goldman Sachs Group Inc. lifted its stake in MercadoLibre by 18.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after acquiring an additional 70,834 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on MELI. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Scotiabank initiated coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Finally, Benchmark restated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,810.88.

MercadoLibre Stock Down 0.3%

Shares of MercadoLibre stock opened at $2,043.06 on Friday. 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, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a market capitalization of $103.58 billion, a P/E ratio of 50.46, a P/E/G ratio of 1.38 and a beta of 1.46. The company has a 50 day moving average of $2,342.88 and a 200 day moving average of $2,345.99.

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