NTV Asset Management LLC Takes Position in MercadoLibre, Inc. $MELI

NTV Asset Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, Holdings Channel.com reports. The fund purchased 100 shares of the company’s stock, valued at approximately $261,000.

Several other large investors have also bought and sold shares of the business. Bison Wealth LLC acquired a new position in MercadoLibre during the fourth quarter worth about $206,000. Rhumbline Advisers grew its holdings in shares of MercadoLibre by 4.4% during the 1st quarter. Rhumbline Advisers now owns 10,365 shares of the company’s stock valued at $20,221,000 after purchasing an additional 437 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of MercadoLibre during the 1st quarter valued at approximately $72,000. Merit Financial Group LLC grew its holdings in shares of MercadoLibre by 7.7% during the 1st quarter. Merit Financial Group LLC now owns 757 shares of the company’s stock valued at $1,477,000 after purchasing an additional 54 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in MercadoLibre by 125.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 79 shares of the company’s stock valued at $154,000 after purchasing an additional 44 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,172.75 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a fifty day moving average of $2,382.29 and a 200-day moving average of $2,343.55. The firm has a market capitalization of $110.16 billion, a P/E ratio of 53.66, a P/E/G ratio of 1.44 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last posted 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 return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the business posted $10.48 earnings per share. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

MELI has been the topic of a number of research reports. Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Benchmark restated a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna reiterated a “positive” rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Barclays cut their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Finally, Cantor Fitzgerald upped their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,822.78.

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.