Hudson Valley Investment Advisors Inc. ADV Purchases New Shares in MercadoLibre, Inc. $MELI

Hudson Valley Investment Advisors Inc. ADV purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,947 shares of the company’s stock, valued at approximately $5,089,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ninety One North America Inc. raised its position in MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares during the last quarter. Banco Santander S.A. raised its position in MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after buying an additional 1,893 shares during the last quarter. Prospect Financial Services LLC raised its position in MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after buying an additional 100 shares during the last quarter. Stratos Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter valued at $203,000. Finally, Bosman Wealth Management LLC raised its position in MercadoLibre by 88.5% in the 2nd quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock valued at $2,616,000 after buying an additional 470 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 3.3%

MELI stock opened at $2,172.75 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 $110.16 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 1.49 and a beta of 1.46. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a fifty day moving average of $2,382.29 and a 200-day moving average of $2,341.63.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 43.06% and a net margin of 8.52%.The firm’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.48 EPS. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the subject of a number of analyst reports. Susquehanna reissued a “positive” rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research report on Friday. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research report on Saturday, September 27th. Finally, Citigroup decreased their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,822.78.

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.