Pallas Capital Advisors LLC Buys New Stake in MercadoLibre, Inc. $MELI

Pallas Capital Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 86 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new stake in shares of MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre during the first quarter worth approximately $25,000. Close Asset Management Ltd raised its stake in shares of 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 buying an additional 11 shares during the period. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Finally, Brooklyn Investment Group raised its stake 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. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.3%

MELI stock opened at $2,460.66 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $2,383.72 and a two-hundred day moving average of $2,323.05. The company has a market cap of $124.76 billion, a price-to-earnings ratio of 60.77, a PEG ratio of 1.60 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $10.48 earnings per share. As a group, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank began coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target on the stock. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Wall Street Zen cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Benchmark reissued a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre 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.