Reston Wealth Management LLC Takes $185,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Reston Wealth Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 90 shares of the company’s stock, valued at approximately $185,000.

Other large investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors grew its stake in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in MercadoLibre in the second quarter valued at $36,000. Quarry LP acquired a new position in MercadoLibre during the 2nd quarter worth about $43,000. Finally, NBC Securities Inc. grew its position in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MELI shares. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. BTIG Research raised their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Raymond James started coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a research report on Monday, October 7th. 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. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,037.18 on Friday. The company has a market cap of $103.29 billion, a P/E ratio of 73.62, a PEG ratio of 1.23 and a beta of 1.61. The company has a fifty day simple moving average of $2,049.29 and a 200 day simple moving average of $1,797.09. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,205.80 and a 12-month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the company earned $5.16 earnings per share. The business’s revenue was up 41.5% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal year.

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.