Apollon Wealth Management LLC Sells 34 Shares of MercadoLibre, Inc. $MELI

Apollon Wealth Management LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656 shares of the company’s stock after selling 34 shares during the quarter. Apollon Wealth Management LLC’s holdings in MercadoLibre were worth $1,715,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Milestones Administradora de Recursos Ltda. grew its stake in MercadoLibre by 119.3% in the second quarter. Milestones Administradora de Recursos Ltda. now owns 7,151 shares of the company’s stock valued at $18,690,000 after purchasing an additional 3,890 shares in the last quarter. Constellation Investimentos e Participacoes Ltda grew its stake in MercadoLibre by 2.0% in the second quarter. Constellation Investimentos e Participacoes Ltda now owns 9,219 shares of the company’s stock valued at $24,095,000 after purchasing an additional 185 shares in the last quarter. Cross Staff Investments Inc bought a new position in MercadoLibre in the second quarter valued at approximately $523,000. Inspire Investing LLC grew its stake in MercadoLibre by 313.9% in the second quarter. Inspire Investing LLC now owns 1,341 shares of the company’s stock valued at $3,505,000 after purchasing an additional 1,017 shares in the last quarter. Finally, PDS Planning Inc bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $225,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup reduced their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Finally, Benchmark reiterated a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,810.88.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,175.91 on Tuesday. The stock has a market cap of $110.32 billion, a P/E ratio of 53.74, a PEG ratio of 1.43 and a beta of 1.46. The stock has a 50 day simple moving average of $2,359.10 and a 200 day simple moving average of $2,348.74. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm 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% on a year-over-year basis. During the same period in the previous year, the business posted $10.48 earnings per share. Research analysts anticipate 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.