MercadoLibre, Inc. $MELI Position Boosted by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17,665.1% in the 2nd quarter, Holdings Channel reports. The firm owned 65,731 shares of the company’s stock after buying an additional 65,361 shares during the period. MercadoLibre makes up approximately 0.5% of Valeo Financial Advisors LLC’s portfolio, making the stock its 26th largest holding. Valeo Financial Advisors LLC’s holdings in MercadoLibre were worth $171,797,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MELI. Optimize Financial Inc lifted its holdings in shares of MercadoLibre by 1.7% during the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the last quarter. Sonora Investment Management Group LLC lifted its stake in MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after buying an additional 5 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in shares of MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock worth $127,000 after buying an additional 5 shares during the period. Range Financial Group LLC increased its position in shares of MercadoLibre by 2.7% in the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after acquiring an additional 5 shares in the last quarter. Finally, Forum Financial Management LP lifted its position in shares of MercadoLibre by 3.1% in the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock valued at $388,000 after acquiring an additional 6 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MELI. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Cantor Fitzgerald raised their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Susquehanna reaffirmed a “positive” rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Citigroup cut their target price on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,822.78.

MercadoLibre Trading Down 3.3%

Shares of MELI stock opened at $2,172.75 on Monday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a 50-day moving average price of $2,382.29 and a 200 day moving average price of $2,345.48. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $110.15 billion, a P/E ratio of 53.66, a P/E/G ratio of 1.45 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share 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 business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the business earned $10.48 earnings per share. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.