Transcend Capital Advisors LLC Invests $212,000 in MercadoLibre, Inc. $MELI

Transcend Capital Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel.com reports. The fund acquired 81 shares of the company’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Key Financial Inc bought a new stake in shares of MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd grew its stake 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 during the last quarter. Highline Wealth Partners LLC grew its stake 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 during the last quarter. Finally, Brooklyn Investment Group grew its stake 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 during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock 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 stock has a market cap of $119.69 billion, a price-to-earnings ratio of 57.61, a P/E/G ratio of 1.56 and a beta of 1.46. The company’s fifty day moving average is $2,312.61 and its 200 day moving average is $2,368.72.

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 the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.83 EPS. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MELI shares. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday. Benchmark decreased their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Finally, Susquehanna reduced their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,790.59.

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.