Sterling Investment Counsel LLC Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Sterling Investment Counsel LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 205 shares of the company’s stock after buying an additional 40 shares during the period. Sterling Investment Counsel LLC’s holdings in MercadoLibre were worth $421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in MercadoLibre in the 2nd quarter valued at $36,000. Quarry LP bought a new position in MercadoLibre in the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. grew its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.0 %

MercadoLibre stock traded down $0.06 during midday trading on Wednesday, reaching $2,067.76. The company’s stock had a trading volume of 27,918 shares, compared to its average volume of 346,978. The stock’s 50-day simple moving average is $2,041.70 and its 200-day simple moving average is $1,774.03. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a 52-week low of $1,162.73 and a 52-week high of $2,161.73. The stock has a market capitalization of $104.83 billion, a P/E ratio of 92.72, a PEG ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business posted $5.16 earnings per share. The firm’s revenue was up 41.5% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. Barclays upped their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, BTIG Research increased their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

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.