Atria Wealth Solutions Inc. Has $1.39 Million Position in MercadoLibre, Inc. $MELI

Atria Wealth Solutions Inc. reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 74.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 533 shares of the company’s stock after selling 1,515 shares during the period. Atria Wealth Solutions Inc.’s holdings in MercadoLibre were worth $1,392,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Key Financial Inc acquired a new stake in shares of MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $25,000. Close Asset Management Ltd grew its stake in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brooklyn Investment Group grew its stake in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of MercadoLibre during the 1st quarter valued at $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent analyst reports. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company 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. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. lowered 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 note on Friday, October 3rd. Finally, Benchmark reiterated a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One 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.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,810.88.

MercadoLibre Price Performance

Shares of MELI opened at $2,043.06 on Friday. The stock has a market cap of $103.58 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 1.38 and a beta of 1.46. 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, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm’s 50-day simple moving average is $2,342.88 and its two-hundred day simple moving average is $2,345.99.

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). The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter last year, the company posted $10.48 EPS. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.