Transcend Capital Advisors LLC Makes New Investment in MercadoLibre, Inc. $MELI

Transcend Capital Advisors LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 81 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also recently bought and sold shares of MELI. Key Financial Inc acquired a new position in MercadoLibre during the 1st quarter worth $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the 1st quarter worth $25,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brooklyn Investment Group lifted its holdings in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in MercadoLibre during the 1st quarter worth $29,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. Citigroup cut their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday. Susquehanna cut their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Finally, Barclays upped their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,790.59.

MercadoLibre Price Performance

MELI stock opened at $2,360.76 on Friday. The stock has a 50-day moving average price of $2,312.61 and a two-hundred day moving average price of $2,368.72. The stock has a market cap of $119.69 billion, a PE ratio of 57.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

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

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.