Sowell Financial Services LLC Takes Position in MercadoLibre, Inc. $MELI

Sowell Financial Services LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 79 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bison Wealth LLC purchased a new stake in MercadoLibre in the 4th quarter worth approximately $206,000. Mackenzie Financial Corp increased its holdings in MercadoLibre by 48.4% in the 4th quarter. Mackenzie Financial Corp now owns 497 shares of the company’s stock worth $845,000 after acquiring an additional 162 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Centaurus Financial Inc. purchased a new stake in MercadoLibre in the 4th quarter worth approximately $315,000. Finally, 111 Capital purchased a new stake in MercadoLibre in the 4th quarter worth approximately $401,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. 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. Citigroup cut their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a report on Monday, August 18th. Benchmark reaffirmed a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Susquehanna reaffirmed a “positive” rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. One 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,828.33.

MercadoLibre Stock Down 1.0%

NASDAQ MELI opened at $2,468.42 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a market capitalization of $125.14 billion, a P/E ratio of 60.96, a P/E/G ratio of 1.62 and a beta of 1.49. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a 50 day moving average price of $2,391.84 and a 200-day moving average price of $2,332.60.

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). The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.48 earnings per share. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.