Cross Staff Investments Inc Invests $523,000 in MercadoLibre, Inc. $MELI

Cross Staff Investments Inc acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 200 shares of the company’s stock, valued at approximately $523,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Inspire Investing LLC grew its holdings in MercadoLibre by 313.9% during the second quarter. Inspire Investing LLC now owns 1,341 shares of the company’s stock valued at $3,505,000 after purchasing an additional 1,017 shares during the period. PDS Planning Inc bought a new position in MercadoLibre during the second quarter valued at $225,000. Endeavor Private Wealth Inc. bought a new position in MercadoLibre during the second quarter valued at $212,000. Costello Asset Management INC grew its holdings in MercadoLibre by 434.3% during the second quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after purchasing an additional 469 shares during the period. Finally, L. Roy Papp & Associates LLP bought a new position in MercadoLibre during the second quarter valued at $261,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 6.2%

Shares of MELI stock opened at $2,133.67 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. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a market capitalization of $108.18 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. The business’s fifty day moving average is $2,363.50 and its 200 day moving average is $2,344.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter last year, the business posted $10.48 EPS. The company’s quarterly revenue was up 33.8% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on MELI shares. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective for the company. Barclays cut their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Benchmark reaffirmed a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,815.29.

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.