Tcfg Wealth Management LLC Increases Stock Position in MercadoLibre, Inc. $MELI

Tcfg Wealth Management LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 134 shares of the company’s stock after acquiring an additional 17 shares during the quarter. Tcfg Wealth Management LLC’s holdings in MercadoLibre were worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Key Financial Inc purchased a new position in shares of MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter valued at approximately $25,000. Close Asset Management Ltd boosted its stake 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 purchasing an additional 11 shares during the period. Brooklyn Investment Group boosted its stake 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 purchasing an additional 13 shares during the period. Finally, Twin Tree Management LP purchased a new position in MercadoLibre in the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MELI shares. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays decreased their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Finally, Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,822.78.

MercadoLibre Stock Up 1.5%

MELI stock opened at $2,187.57 on Wednesday. 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, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company’s 50 day moving average is $2,374.35 and its two-hundred day moving average is $2,344.79. The stock has a market cap of $110.91 billion, a P/E ratio of 54.03, a PEG ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its 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). The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.48 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.