Monetta Financial Services Inc. Invests $915,000 in MercadoLibre, Inc. $MELI

Monetta Financial Services Inc. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 350 shares of the company’s stock, valued at approximately $915,000.

A number of other large investors have also added to or reduced their stakes in the company. ABN Amro Investment Solutions bought a new position in shares of MercadoLibre during the second quarter valued at approximately $17,242,000. Impax Asset Management Group plc boosted its position in MercadoLibre by 4.5% during the 2nd quarter. Impax Asset Management Group plc now owns 2,035 shares of the company’s stock valued at $5,319,000 after acquiring an additional 87 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of MercadoLibre by 87.8% during the second quarter. Calamos Advisors LLC now owns 7,475 shares of the company’s stock valued at $19,537,000 after purchasing an additional 3,494 shares in the last quarter. Geode Capital Management LLC raised its holdings in MercadoLibre by 9.0% in the second quarter. Geode Capital Management LLC now owns 65,142 shares of the company’s stock worth $163,107,000 after purchasing an additional 5,361 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of MercadoLibre by 1.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,610 shares of the company’s stock valued at $12,049,000 after buying an additional 75 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.2%

NASDAQ:MELI opened at $2,103.91 on Thursday. The company has a 50 day simple moving average of $2,271.75 and a two-hundred day simple moving average of $2,375.57. The company has a market cap of $106.66 billion, a PE ratio of 51.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. 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 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the firm earned $7.83 EPS. The business’s revenue was up 39.5% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Susquehanna lowered their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Barclays raised their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,861.25.

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.