Petredis Investment Advisors LLC Acquires 89 Shares of MercadoLibre, Inc. $MELI

Petredis Investment Advisors LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,522 shares of the company’s stock after acquiring an additional 89 shares during the quarter. Petredis Investment Advisors LLC’s holdings in MercadoLibre were worth $6,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Key Financial Inc bought a new position in shares of MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre in the 1st quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre in the 4th quarter valued at $26,000. Close Asset Management Ltd increased its stake in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 1.0%

Shares of NASDAQ MELI opened at $2,452.34 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The firm has a 50 day moving average price of $2,382.11 and a two-hundred day moving average price of $2,317.99. The stock has a market cap of $124.33 billion, a P/E ratio of 60.57, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last announced 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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the company posted $10.48 earnings per share. The company’s revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup cut their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a report on Monday, August 18th. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. One 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. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target 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.