Lineweaver Wealth Advisors LLC Buys New Stake in MercadoLibre, Inc. $MELI

Lineweaver Wealth Advisors LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 100 shares of the company’s stock, valued at approximately $261,000.

Other large investors also recently bought and sold shares of the company. Banco Santander S.A. boosted its position in shares of MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,893 shares during the period. Prospect Financial Services LLC boosted its holdings in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after acquiring an additional 100 shares during the period. Stratos Investment Management LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $203,000. Avant Financial Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $316,000. Finally, Ground Swell Capital LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at $439,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,390.14 on Wednesday. The stock has a fifty day moving average price of $2,379.94 and a 200 day moving average price of $2,310.12. 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 stock has a market cap of $121.18 billion, a PE ratio of 59.03, a P/E/G ratio of 1.52 and a beta of 1.49. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share 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 analysts’ expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.48 EPS. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research note on Monday, June 2nd. Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target on the stock. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Finally, Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,817.22.

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.