MercadoLibre, Inc. $MELI Shares Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 193.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 915 shares of the company’s stock after buying an additional 603 shares during the quarter. GC Wealth Management RIA LLC’s holdings in MercadoLibre were worth $2,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Key Financial Inc acquired a new position in MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $25,000. Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group grew its position in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI opened at $2,468.42 on Monday. 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 company has a market capitalization of $125.15 billion, a price-to-earnings ratio of 60.96, a PEG ratio of 1.61 and a beta of 1.49. The company’s 50 day simple moving average is $2,391.84 and its 200 day simple moving average is $2,337.29. 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 data 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). The firm had revenue of $6.79 billion for 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 business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.48 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MELI. Citigroup lowered their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Susquehanna reiterated a “positive” rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. Finally, Barclays lowered their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. One research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,828.33.

MercadoLibre 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.