Total Clarity Wealth Management Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 53.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217 shares of the company’s stock after buying an additional 76 shares during the period. Total Clarity Wealth Management Inc.’s holdings in MercadoLibre were worth $567,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of MELI. Invesco Ltd. raised its holdings in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after buying an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after buying an additional 96,283 shares in the last quarter. GQG Partners LLC raised its holdings in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after buying an additional 87,912 shares in the last quarter. Nuveen LLC acquired a new position in shares of MercadoLibre in the 1st quarter worth approximately $143,367,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of MercadoLibre by 18.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after buying an additional 70,834 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on MELI shares. Citigroup dropped their target price on 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 set a $2,700.00 target price on MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Scotiabank assumed coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Daiwa Capital Markets assumed coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,810.88.
MercadoLibre Stock Up 2.0%
Shares of MELI opened at $2,175.91 on Tuesday. The firm has a market capitalization of $110.32 billion, a price-to-earnings ratio of 53.74, a PEG ratio of 1.43 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. The business’s fifty day moving average price is $2,359.10 and its two-hundred day moving average price is $2,348.74. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.48 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.
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