Wealth Management Associates Inc. Grows Stake in MercadoLibre, Inc. $MELI

Wealth Management Associates Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176 shares of the company’s stock after purchasing an additional 39 shares during the quarter. Wealth Management Associates Inc.’s holdings in MercadoLibre were worth $343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC grew its holdings in MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock worth $2,251,531,000 after purchasing an additional 18,731 shares during the last quarter. Invesco Ltd. grew its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in MercadoLibre by 21.2% in 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. Generation Investment Management LLP grew its holdings in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after buying an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Susquehanna reissued a “positive” rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective on the stock. Finally, Barclays dropped their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. One 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 company’s stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre Trading Down 1.0%

NASDAQ MELI opened at $2,348.99 on Thursday. The company has a market capitalization of $119.09 billion, a PE ratio of 58.01, a P/E/G ratio of 1.54 and a beta of 1.49. The company has a fifty day moving average of $2,391.71 and a 200 day moving average of $2,304.11. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.48 earnings per share. Research analysts forecast 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.