Vise Technologies Inc. Buys Shares of 377 MercadoLibre, Inc. $MELI

Vise Technologies Inc. acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 377 shares of the company’s stock, valued at approximately $986,000.

Other large investors have also modified their holdings of the company. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the first quarter worth about $25,000. Close Asset Management Ltd boosted its stake in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group increased its position in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the period. Twin Tree Management LP acquired a new stake in MercadoLibre during the first quarter worth $29,000. Finally, Saudi Central Bank bought a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of several research reports. Barclays upped their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Benchmark reduced their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Wedbush upped their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Susquehanna decreased their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,861.25.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded down $49.26 during midday trading on Thursday, reaching $2,054.65. The company’s stock had a trading volume of 87,939 shares, compared to its average volume of 413,961. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a 50 day moving average price of $2,271.75 and a 200-day moving average price of $2,375.57. The stock has a market capitalization of $104.16 billion, a P/E ratio of 50.13, a PEG ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the firm earned $7.83 EPS. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.