Anthracite Investment Company Inc. Has $4.78 Million Position in MercadoLibre, Inc. $MELI

Anthracite Investment Company Inc. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,829 shares of the company’s stock after acquiring an additional 300 shares during the quarter. MercadoLibre comprises 2.4% of Anthracite Investment Company Inc.’s portfolio, making the stock its 16th biggest holding. Anthracite Investment Company Inc.’s holdings in MercadoLibre were worth $4,780,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Bison Wealth LLC acquired a new position in MercadoLibre in the 4th quarter valued at $206,000. International Assets Investment Management LLC grew its holdings in MercadoLibre by 21.5% in the 1st quarter. International Assets Investment Management LLC now owns 158 shares of the company’s stock valued at $308,000 after buying an additional 28 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in MercadoLibre by 47.4% in the 1st quarter. Golden State Wealth Management LLC now owns 56 shares of the company’s stock valued at $109,000 after buying an additional 18 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in MercadoLibre by 1.9% in the 1st quarter. Perigon Wealth Management LLC now owns 975 shares of the company’s stock valued at $1,902,000 after buying an additional 18 shares in the last quarter. Finally, Pure Financial Advisors LLC acquired a new position in MercadoLibre in the 1st quarter valued at $213,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on MELI shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. Susquehanna decreased their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Finally, Barclays decreased their price objective on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating on the stock in a report on Tuesday. 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 stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,799.12.

MercadoLibre Stock Performance

MELI opened at $2,161.11 on Friday. The firm has a market cap of $109.57 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The business’s fifty day moving average is $2,315.64 and its 200-day moving average is $2,359.44.

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

About MercadoLibre

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.