Wealthspire Advisors LLC Has $1.12 Million Stake in MercadoLibre, Inc. $MELI

Wealthspire Advisors LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 22.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 430 shares of the company’s stock after purchasing an additional 80 shares during the quarter. Wealthspire Advisors LLC’s holdings in MercadoLibre were worth $1,124,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Ninety One North America Inc. increased its holdings in shares of 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 purchasing an additional 1,080 shares during the period. Resona Asset Management Co. Ltd. increased its stake in MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares during the period. Banco Santander S.A. increased its stake in MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after acquiring an additional 1,893 shares during the period. Jennison Associates LLC raised its holdings in MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its position in shares of MercadoLibre by 10.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock worth $13,921,000 after acquiring an additional 525 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BTIG Research restated a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Friday, November 14th. Benchmark dropped their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Wedbush raised their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Scotiabank began coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. One 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, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,854.71.

MercadoLibre Stock Down 8.5%

MELI opened at $1,899.75 on Friday. The firm has a market cap of $96.31 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 1.56 and a beta of 1.51. 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 firm’s 50-day simple moving average is $2,230.37 and its 200-day simple moving average is $2,364.48. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

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

MercadoLibre Company 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.