Kovack Advisors Inc. Has $3.03 Million Stock Holdings in MercadoLibre, Inc. $MELI

Kovack Advisors Inc. increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 73.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,158 shares of the company’s stock after purchasing an additional 492 shares during the quarter. Kovack Advisors Inc.’s holdings in MercadoLibre were worth $3,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MELI. Key Financial Inc acquired a new stake in MercadoLibre in the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre in the first quarter worth about $25,000. Close Asset Management Ltd increased its position in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group grew its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new position in shares of MercadoLibre during the 1st quarter worth about $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MELI shares. Barclays boosted their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Citigroup decreased their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One 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 a consensus target price of $2,790.59.

MercadoLibre Trading Up 2.8%

Shares of MercadoLibre stock opened at $2,360.76 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The business has a fifty day simple moving average of $2,312.61 and a two-hundred day simple moving average of $2,368.72. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a market capitalization of $119.69 billion, a price-to-earnings ratio of 57.61, a P/E/G ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the prior year, the firm earned $7.83 earnings per share. MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.