300 Shares in MercadoLibre, Inc. $MELI Purchased by Stonehage Fleming Financial Services Holdings Ltd

Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 300 shares of the company’s stock, valued at approximately $509,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter valued at approximately $29,000. Finally, Wedbush Fund Advisers LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on MELI shares. Benchmark dropped their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Barclays cut their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Cantor Fitzgerald increased their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, August 6th. Finally, Citigroup upped their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Trading Down 1.0%

MELI opened at $1,930.75 on Friday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The firm has a market capitalization of $97.88 billion, a price-to-earnings ratio of 52.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company’s 50 day simple moving average is $1,817.82 and its two-hundred day simple moving average is $1,771.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.31 earnings per share. Analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.