MercadoLibre, Inc. $MELI Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 17.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,748 shares of the company’s stock after purchasing an additional 254 shares during the period. J.W. Cole Advisors Inc.’s holdings in MercadoLibre were worth $4,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Brooklyn Investment Group grew its stake 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 last quarter. Twin Tree Management LP purchased a new stake in shares of MercadoLibre in the first quarter valued at about $29,000. Saudi Central Bank purchased a new stake in shares of MercadoLibre in the first quarter valued at about $35,000. McIlrath & Eck LLC grew its position in shares of MercadoLibre by 375.0% in the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after purchasing an additional 15 shares during the last quarter. Finally, Highline Wealth Partners LLC increased its stake in shares of MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 1.1%

Shares of MELI stock opened at $2,033.32 on Thursday. 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 fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm’s 50 day moving average price is $2,201.12 and its two-hundred day moving average price is $2,356.16. The stock has a market cap of $103.08 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MELI shares. Barclays raised their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Benchmark cut their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. Susquehanna decreased their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,848.82.

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.