Centurion Wealth Management LLC Has $476,000 Stake in MercadoLibre, Inc. $MELI

Centurion Wealth Management LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 30.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182 shares of the company’s stock after buying an additional 43 shares during the quarter. Centurion Wealth Management LLC’s holdings in MercadoLibre were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MELI. Banco Santander S.A. raised its stake in shares of MercadoLibre by 221.9% in the 1st 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 in the last quarter. Prospect Financial Services LLC raised its stake in shares of MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after acquiring an additional 100 shares in the last quarter. Stratos Investment Management LLC bought a new position in shares of MercadoLibre in the 1st quarter valued at approximately $203,000. Avant Financial Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at approximately $316,000. Finally, Ground Swell Capital LLC bought a new position in shares of MercadoLibre in the 1st quarter valued at approximately $439,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MELI. Benchmark reissued a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Citigroup cut their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,700.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,817.22.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,339.36 on Friday. 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 business’s 50 day moving average is $2,384.98 and its two-hundred day moving average is $2,306.83. The company has a market cap of $118.61 billion, a P/E ratio of 57.78, a P/E/G ratio of 1.52 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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 firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.48 earnings per share. On average, equities analysts expect 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.