100 Shares in MercadoLibre, Inc. $MELI Acquired by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100 shares of the company’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Optimize Financial Inc grew its position in MercadoLibre by 1.7% in the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after acquiring an additional 4 shares during the last quarter. Range Financial Group LLC grew its holdings in shares of MercadoLibre by 2.7% in the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after purchasing an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of MercadoLibre by 26.3% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after purchasing an additional 5 shares during the last quarter. Forum Financial Management LP increased its stake in MercadoLibre by 3.1% in the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after buying an additional 6 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in MercadoLibre by 37.5% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock valued at $43,000 after buying an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MELI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Cantor Fitzgerald increased their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,810.88.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,043.06 on Friday. The company’s 50-day moving average is $2,342.88 and its two-hundred day moving average is $2,345.99. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market capitalization of $103.58 billion, a price-to-earnings ratio of 50.46, a PEG ratio of 1.38 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the previous year, the firm posted $10.48 EPS. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.