Walker Asset Management LLC Buys Shares of 83 MercadoLibre, Inc. $MELI

Walker Asset Management LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 83 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Key Financial Inc acquired a new stake in MercadoLibre in the first quarter valued at $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter valued at $25,000. Close Asset Management Ltd increased 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 buying an additional 11 shares in the last quarter. Highline Wealth Partners LLC increased its position in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased 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 buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 1.0%

MercadoLibre stock opened at $2,468.42 on Monday. The stock has a market cap of $125.15 billion, a PE ratio of 60.96, a P/E/G ratio of 1.61 and a beta of 1.49. The stock has a 50-day moving average price of $2,391.84 and a 200 day moving average price of $2,337.29. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald raised their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Benchmark restated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One research 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 company’s stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,828.33.

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.