PUREfi Wealth LLC Acquires Shares of 102 MercadoLibre, Inc. $MELI

PUREfi Wealth LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 102 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Key Financial Inc bought a new stake in MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre during the first quarter worth approximately $25,000. Close Asset Management Ltd increased its stake in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Highline Wealth Partners LLC increased its stake in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MELI. Barclays lowered their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Scotiabank began coverage on MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research note on Saturday, September 27th. Finally, Susquehanna reissued a “positive” rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,822.78.

MercadoLibre Stock Down 3.3%

Shares of NASDAQ:MELI opened at $2,172.75 on Monday. The firm has a market cap of $110.15 billion, a P/E ratio of 53.66, a P/E/G ratio of 1.45 and a beta of 1.46. 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, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business has a fifty day simple moving average of $2,382.29 and a 200 day simple moving average of $2,345.48.

MercadoLibre (NASDAQ:MELI) last announced its 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 for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the business earned $10.48 earnings per share. Analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.