MercadoLibre, Inc. $MELI Position Boosted by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 31.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148 shares of the company’s stock after buying an additional 35 shares during the quarter. Resonant Capital Advisors LLC’s holdings in MercadoLibre were worth $387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its position 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 acquiring an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in MercadoLibre by 21.2% during the first 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 purchasing an additional 96,283 shares during the last quarter. GQG Partners LLC boosted its holdings in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares during the period. Nuveen LLC bought a new stake in MercadoLibre during the first quarter valued at $143,367,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of MercadoLibre by 18.7% during the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after purchasing an additional 70,834 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MELI. Susquehanna decreased their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Barclays dropped their price target on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,799.12.

MercadoLibre Stock Up 5.6%

MELI opened at $2,282.32 on Tuesday. The stock’s 50 day moving average price is $2,314.00 and its 200 day moving average price is $2,364.20. 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 stock has a market cap of $115.71 billion, a P/E ratio of 56.37, a P/E/G ratio of 1.47 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

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