Geneos Wealth Management Inc. Boosts Holdings in MercadoLibre, Inc. $MELI

Geneos Wealth Management Inc. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 135.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94 shares of the company’s stock after purchasing an additional 54 shares during the quarter. Geneos Wealth Management Inc.’s holdings in MercadoLibre were worth $183,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Optimize Financial Inc boosted its holdings in MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the last quarter. Formidable Asset Management LLC boosted its holdings in MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after purchasing an additional 5 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after purchasing an additional 5 shares during the last quarter. Sonora Investment Management Group LLC boosted its holdings in MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after purchasing an additional 5 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after purchasing an additional 5 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.3%

MELI opened at $2,390.14 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $2,379.94 and a 200 day moving average price of $2,310.12. The company has a market cap of $121.18 billion, a PE ratio of 59.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49.

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 return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the company earned $10.48 EPS. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on MELI shares. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre 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 note on Tuesday, August 5th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,817.22.

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.