Equitable Trust Co. Purchases 1,738 Shares of MercadoLibre, Inc. $MELI

Equitable Trust Co. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 123.6% in the second quarter, HoldingsChannel reports. The firm owned 3,144 shares of the company’s stock after purchasing an additional 1,738 shares during the quarter. Equitable Trust Co.’s holdings in MercadoLibre were worth $8,217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Key Financial Inc bought a new position in MercadoLibre during the first quarter valued at $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre during the 1st quarter valued at about $25,000. Close Asset Management Ltd increased its stake in 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 acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group increased its stake 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 last quarter. Finally, Twin Tree Management LP bought a new stake in MercadoLibre during the first quarter worth approximately $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 2.0%

MercadoLibre stock opened at $2,175.91 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $110.32 billion, a price-to-earnings ratio of 53.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. The stock has a 50-day moving average price of $2,359.10 and a 200 day moving average price of $2,348.74.

MercadoLibre (NASDAQ:MELI) last posted its quarterly 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 business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business posted $10.48 earnings per share. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,810.88.

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.