Jackson Wealth Management LLC Makes New $499,000 Investment in MercadoLibre, Inc. $MELI

Jackson Wealth Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel reports. The fund purchased 191 shares of the company’s stock, valued at approximately $499,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc bought a new stake in MercadoLibre during the 1st quarter worth about $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter worth about $25,000. Close Asset Management Ltd lifted its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Highline Wealth Partners LLC lifted its position in MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MELI. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,822.78.

MercadoLibre Stock Down 3.3%

Shares of MELI opened at $2,172.75 on Friday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The firm has a market cap of $110.16 billion, a P/E ratio of 53.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.46. The firm’s 50-day simple moving average is $2,382.29 and its 200 day simple moving average is $2,341.63. 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 (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company 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 EPS. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.