Ascent Group LLC Acquires New Holdings in MercadoLibre, Inc. $MELI

Ascent Group LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 78 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Key Financial Inc bought a new stake in MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the 1st quarter worth $25,000. Close Asset Management Ltd boosted its stake in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Highline Wealth Partners LLC boosted its stake in MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group boosted 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 valued at $29,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective for the company. Susquehanna reaffirmed a “positive” rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Barclays cut their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Finally, Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,822.78.

MercadoLibre Trading Down 0.4%

Shares of MELI stock opened at $2,179.89 on Thursday. The stock has a market capitalization of $110.51 billion, a PE ratio of 53.84, a P/E/G ratio of 1.46 and a beta of 1.46. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The business has a 50-day moving average of $2,370.32 and a 200 day moving average of $2,343.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last released its quarterly 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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the company earned $10.48 EPS. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.