MercadoLibre, Inc. $MELI Shares Purchased by Segment Wealth Management LLC

Segment Wealth Management LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 835 shares of the company’s stock after buying an additional 39 shares during the period. Segment Wealth Management LLC’s holdings in MercadoLibre were worth $2,182,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Key Financial Inc acquired a new stake in shares of MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd raised its holdings in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group raised its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new stake in shares of MercadoLibre during the first quarter worth $29,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MELI shares. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a report on Friday. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Susquehanna restated a “positive” rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,822.78.

MercadoLibre Stock Performance

Shares of MELI opened at $2,172.75 on Friday. The firm has a 50-day moving average price of $2,382.29 and a 200 day moving average price of $2,341.63. The firm has a market capitalization of $110.16 billion, a PE ratio of 53.66, a P/E/G ratio of 1.49 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its 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 the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.48 EPS. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 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.