Soltis Investment Advisors LLC Acquires New Stake in MercadoLibre, Inc. $MELI

Soltis Investment Advisors LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 134 shares of the company’s stock, valued at approximately $349,000.

A number of other institutional investors have also recently made changes to their positions in the company. Bison Wealth LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $206,000. Financial Counselors Inc. purchased a new position in shares of MercadoLibre in the first quarter worth about $300,000. Brown Advisory Inc. raised its position in shares of MercadoLibre by 8.3% in the first quarter. Brown Advisory Inc. now owns 678 shares of the company’s stock valued at $1,323,000 after purchasing an additional 52 shares during the period. Greenleaf Trust lifted its stake in shares of MercadoLibre by 12.1% during the 1st quarter. Greenleaf Trust now owns 148 shares of the company’s stock valued at $289,000 after buying an additional 16 shares in the last quarter. Finally, Leavell Investment Management Inc. bought a new position in MercadoLibre in the 1st quarter worth approximately $224,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MELI shares. Susquehanna lowered their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Benchmark reduced their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Wedbush raised their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Trading Down 0.9%

Shares of MELI opened at $2,108.60 on Friday. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a market capitalization of $106.90 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.56 and a beta of 1.51. 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 firm’s 50 day simple moving average is $2,290.36 and its 200 day simple moving average is $2,375.77.

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

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.