Strategic Financial Concepts LLC Has $287,000 Holdings in MercadoLibre, Inc. $MELI

Strategic Financial Concepts LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 36.4% in the second quarter, HoldingsChannel reports. The fund owned 110 shares of the company’s stock after selling 63 shares during the period. Strategic Financial Concepts LLC’s holdings in MercadoLibre were worth $287,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bison Wealth LLC bought a new position in MercadoLibre in the 4th quarter valued at $206,000. Mather Group LLC. lifted its stake in shares of MercadoLibre by 115.8% during the first quarter. Mather Group LLC. now owns 41 shares of the company’s stock valued at $79,000 after acquiring an additional 22 shares during the period. Calamos Advisors LLC boosted its holdings in MercadoLibre by 44.5% in the first quarter. Calamos Advisors LLC now owns 3,981 shares of the company’s stock valued at $7,766,000 after acquiring an additional 1,226 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in MercadoLibre by 13.2% in the first quarter. OneDigital Investment Advisors LLC now owns 874 shares of the company’s stock worth $1,705,000 after purchasing an additional 102 shares during the period. Finally, World Investment Advisors raised its holdings in MercadoLibre by 11.7% during the 1st quarter. World Investment Advisors now owns 582 shares of the company’s stock worth $1,135,000 after purchasing an additional 61 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

MELI opened at $2,328.90 on Monday. 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 company has a fifty day simple moving average of $2,310.58 and a 200 day simple moving average of $2,374.68. The stock has a market cap of $118.07 billion, a P/E ratio of 56.83, a P/E/G ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the prior year, the firm posted $7.83 earnings per share. The business’s revenue was up 39.5% on a year-over-year basis. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of several recent research reports. Barclays raised their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup lowered their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Wedbush increased their price target on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,796.47.

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.