MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Gradient Investments LLC

Gradient Investments LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,972 shares of the company’s stock after acquiring an additional 303 shares during the quarter. Gradient Investments LLC’s holdings in MercadoLibre were worth $4,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Advisor Resource Council acquired a new stake in MercadoLibre during the 4th quarter worth $359,000. O Shaughnessy Asset Management LLC raised its stake in MercadoLibre by 108.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 225 shares of the company’s stock worth $303,000 after acquiring an additional 117 shares in the last quarter. PFS Investments Inc. raised its stake in MercadoLibre by 41.9% during the 4th quarter. PFS Investments Inc. now owns 860 shares of the company’s stock worth $1,160,000 after acquiring an additional 254 shares in the last quarter. True North Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth $353,000. Finally, American International Group Inc. raised its stake in MercadoLibre by 4.4% during the 4th quarter. American International Group Inc. now owns 3,251 shares of the company’s stock worth $4,384,000 after acquiring an additional 137 shares in the last quarter. 89.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays dropped their price objective on shares of MercadoLibre from $1,500.00 to $1,250.00 and set an “overweight” rating on the stock in a research note on Thursday, August 4th. Credit Suisse Group lifted their price objective on shares of MercadoLibre from $1,430.00 to $1,470.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Citigroup dropped their price objective on shares of MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating on the stock in a research note on Thursday, June 9th. KGI Securities assumed coverage on shares of MercadoLibre in a research note on Monday, June 6th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,300.00 to $1,350.00 in a research note on Monday, August 8th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,388.18.

MercadoLibre Stock Down 4.8 %

MELI stock opened at $919.11 on Monday. The company has a market cap of $46.27 billion, a P/E ratio of 194.32 and a beta of 1.63. MercadoLibre, Inc. has a 52 week low of $600.68 and a 52 week high of $1,913.77. The company’s 50-day moving average price is $876.78 and its 200 day moving average price is $899.94. The company has a current ratio of 1.30, a quick ratio of 1.27 and a debt-to-equity ratio of 1.59.

MercadoLibre (NASDAQ:MELIGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.75. MercadoLibre had a net margin of 2.68% and a return on equity of 19.66%. During the same quarter in the prior year, the company earned $1.37 EPS. On average, research analysts expect that MercadoLibre, Inc. will post 7.78 earnings per share for the current fiscal year.

About MercadoLibre

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

Further Reading

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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