Venturi Wealth Management LLC Raises Stock Position in MercadoLibre, Inc. $MELI

Venturi Wealth Management LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,615 shares of the company’s stock after purchasing an additional 62 shares during the quarter. Venturi Wealth Management LLC’s holdings in MercadoLibre were worth $4,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MELI. Key Financial Inc purchased a new stake in shares of MercadoLibre in the 1st quarter worth about $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre in the 1st quarter worth about $25,000. Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Highline Wealth Partners LLC grew its position in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares during the period. Finally, Brooklyn Investment Group grew its position in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research report on Saturday, September 27th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,822.78.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,187.57 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The firm has a market cap of $110.91 billion, a P/E ratio of 54.03, a PEG ratio of 1.43 and a beta of 1.46. The company has a 50 day moving average of $2,374.35 and a 200 day moving average of $2,344.79. 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 (NASDAQ:MELI) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the previous year, the firm earned $10.48 earnings per share. MercadoLibre’s revenue was up 33.8% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.