MercadoLibre, Inc. $MELI Shares Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 398 shares of the company’s stock after acquiring an additional 90 shares during the quarter. Sheets Smith Wealth Management’s holdings in MercadoLibre were worth $1,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimize Financial Inc increased its position in MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after purchasing an additional 4 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after acquiring an additional 5 shares in the last quarter. Sonora Investment Management Group LLC increased its position in shares of MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock worth $328,000 after acquiring an additional 5 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock worth $127,000 after acquiring an additional 5 shares in the last quarter. Finally, Range Financial Group LLC increased its position in shares of MercadoLibre by 2.7% in the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 1.4%

NASDAQ MELI opened at $2,494.35 on Wednesday. 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 one year low of $1,646.00 and a one year high of $2,645.22. The company has a 50-day simple moving average of $2,385.80 and a 200-day simple moving average of $2,324.24. The firm has a market capitalization of $126.46 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the company earned $10.48 EPS. MercadoLibre’s revenue was up 33.8% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays decreased their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report 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 given a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,817.22.

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.