GGM Financials LLC Makes New Investment in MercadoLibre, Inc. $MELI

GGM Financials LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 417 shares of the company’s stock, valued at approximately $1,090,000.

Other institutional investors also recently bought and sold shares of the company. Ninety One North America Inc. lifted its holdings in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares during the last quarter. Banco Santander S.A. lifted its holdings in MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after buying an additional 1,893 shares during the last quarter. Stratos Investment Management LLC purchased a new stake in MercadoLibre during the 1st quarter worth about $203,000. Costello Asset Management INC lifted its holdings in MercadoLibre by 434.3% during the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock worth $1,509,000 after buying an additional 469 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock worth $5,899,000 after buying an additional 177 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MELI. Barclays decreased their price target on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. Susquehanna reduced their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Finally, Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,799.12.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,282.32 on Tuesday. The stock has a market capitalization of $115.71 billion, a PE ratio of 56.37, 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 stock’s 50-day moving average price is $2,314.00 and its 200 day moving average price is $2,364.20. 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 (NASDAQ:MELI) last issued its quarterly 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 during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.48 EPS. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.