IFP Advisors Inc Purchases 35 Shares of MercadoLibre, Inc. $MELI

IFP Advisors Inc increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 364 shares of the company’s stock after buying an additional 35 shares during the quarter. IFP Advisors Inc’s holdings in MercadoLibre were worth $959,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MELI. Ninety One North America Inc. boosted its position in MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares during the last quarter. Banco Santander S.A. lifted its position in shares of MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after purchasing an additional 1,893 shares in the last quarter. Stratos Investment Management LLC bought a new stake in MercadoLibre during the first quarter worth $203,000. Vaughan Nelson Investment Management L.P. boosted its position in MercadoLibre by 8.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock worth $5,899,000 after purchasing an additional 177 shares during the period. Finally, Bosman Wealth Management LLC grew its holdings in MercadoLibre by 88.5% in the 2nd quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock valued at $2,616,000 after buying an additional 470 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note 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 report on Wednesday, September 24th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,815.29.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,133.67 on Monday. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market cap of $108.18 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.43 and a beta of 1.46. The stock’s 50 day simple moving average is $2,363.50 and its two-hundred day simple moving average is $2,347.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last announced 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 company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.48 EPS. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.