Bosman Wealth Management LLC Increases Holdings in MercadoLibre, Inc. $MELI

Bosman Wealth Management LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 88.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,001 shares of the company’s stock after acquiring an additional 470 shares during the period. MercadoLibre comprises 2.3% of Bosman Wealth Management LLC’s holdings, making the stock its 19th largest position. Bosman Wealth Management LLC’s holdings in MercadoLibre were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Bison Wealth LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $206,000. Mackenzie Financial Corp grew its holdings in MercadoLibre by 48.4% during the fourth quarter. Mackenzie Financial Corp now owns 497 shares of the company’s stock worth $845,000 after acquiring an additional 162 shares during the period. GAMMA Investing LLC grew its holdings in MercadoLibre by 208,441.4% during the first quarter. GAMMA Investing LLC now owns 60,477 shares of the company’s stock worth $117,983,000 after acquiring an additional 60,448 shares during the period. Rhumbline Advisers grew its holdings in MercadoLibre by 4.4% during the first quarter. Rhumbline Advisers now owns 10,365 shares of the company’s stock worth $20,221,000 after acquiring an additional 437 shares during the period. Finally, NBC Securities Inc. acquired a new stake in MercadoLibre during the first quarter worth about $72,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,501.31 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The business’s 50 day moving average price is $2,394.29 and its 200-day moving average price is $2,340.65. The firm has a market capitalization of $126.81 billion, a PE ratio of 61.78, a P/E/G ratio of 1.61 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 issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) 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 analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.48 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MELI. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Susquehanna reaffirmed a “positive” rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective on the stock. 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. Finally, Citigroup dropped their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a report on Monday, August 18th. One research 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.