Nisa Investment Advisors LLC Buys 423 Shares of MercadoLibre, Inc. $MELI

Nisa Investment Advisors LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 143.9% during the second quarter, Holdings Channel.com reports. The fund owned 717 shares of the company’s stock after acquiring an additional 423 shares during the period. Nisa Investment Advisors LLC’s holdings in MercadoLibre were worth $1,874,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Bison Wealth LLC bought a new position in MercadoLibre during the 4th quarter worth $206,000. Mather Group LLC. increased its stake in shares of MercadoLibre by 115.8% in the 1st quarter. Mather Group LLC. now owns 41 shares of the company’s stock valued at $79,000 after purchasing an additional 22 shares during the last quarter. Clear Creek Financial Management LLC bought a new position in shares of MercadoLibre in the 1st quarter valued at $213,000. Summit Trail Advisors LLC bought a new position in shares of MercadoLibre in the 1st quarter valued at $211,000. Finally, DAVENPORT & Co LLC increased its stake in shares of MercadoLibre by 0.9% in the 1st quarter. DAVENPORT & Co LLC now owns 5,056 shares of the company’s stock valued at $9,864,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MELI. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Benchmark decreased their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays lifted their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Scotiabank began coverage on MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,790.59.

MercadoLibre Trading Up 2.8%

NASDAQ MELI opened at $2,360.76 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 twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a market cap of $119.69 billion, a price-to-earnings ratio of 57.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. The business’s fifty day moving average is $2,312.61 and its 200 day moving average is $2,368.72.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the business earned $7.83 EPS. The company’s revenue was up 39.5% compared to the same quarter last year. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.