86 Shares in MercadoLibre, Inc. $MELI Acquired by PDS Planning Inc

PDS Planning Inc acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 86 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Key Financial Inc acquired a new stake in shares of MercadoLibre during the first quarter valued at about $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd grew its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group increased its position in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP bought a new position in shares of MercadoLibre during the first quarter valued at $29,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MELI. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Susquehanna restated a “positive” rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,815.29.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,133.67 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a market cap of $108.18 billion, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. The company’s 50 day moving average is $2,363.50 and its 200-day moving average is $2,347.84.

MercadoLibre (NASDAQ:MELI) last released 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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the previous year, the business earned $10.48 EPS. The business’s revenue was up 33.8% on a year-over-year basis. Sell-side analysts predict 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.