MercadoLibre, Inc. (NASDAQ:MELI) Stake Boosted by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198 shares of the company’s stock after purchasing an additional 7 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in MercadoLibre were worth $407,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MELI. Diversify Wealth Management LLC boosted its position in MercadoLibre by 4.2% during the third quarter. Diversify Wealth Management LLC now owns 398 shares of the company’s stock worth $811,000 after purchasing an additional 16 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in shares of MercadoLibre by 16.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 613 shares of the company’s stock worth $1,258,000 after buying an additional 85 shares during the period. Mutual Advisors LLC grew its stake in MercadoLibre by 29.4% in the 3rd quarter. Mutual Advisors LLC now owns 674 shares of the company’s stock valued at $1,385,000 after buying an additional 153 shares during the last quarter. Avitas Wealth Management LLC raised its holdings in MercadoLibre by 1.0% in the 3rd quarter. Avitas Wealth Management LLC now owns 1,150 shares of the company’s stock worth $2,360,000 after acquiring an additional 11 shares during the period. Finally, Strategic Blueprint LLC lifted its position in MercadoLibre by 0.9% during the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 0.3 %

Shares of MELI stock opened at $2,020.72 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $102.44 billion, a P/E ratio of 90.41, a P/E/G ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,205.80 and a 12-month high of $2,161.73. The firm has a 50-day moving average price of $2,048.32 and a 200 day moving average price of $1,795.41.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $5.16 EPS. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. Research analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MELI. Barclays raised their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. BTIG Research raised their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a report on Monday, October 7th. Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

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.