Creekmur Asset Management LLC Boosts Holdings in MercadoLibre, Inc. $MELI

Creekmur Asset Management LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 36.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 576 shares of the company’s stock after purchasing an additional 155 shares during the period. Creekmur Asset Management LLC’s holdings in MercadoLibre were worth $1,505,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Key Financial Inc purchased a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd boosted its position in shares of 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 purchasing an additional 11 shares during the period. Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. Finally, Twin Tree Management LP purchased a new position in shares of MercadoLibre during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of a number of research analyst reports. Susquehanna lowered their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective for the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Benchmark reduced their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,790.59.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,360.76 on Friday. The firm has a market cap of $119.69 billion, a PE ratio of 57.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. 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’s 50 day moving average is $2,312.61 and its two-hundred day moving average is $2,368.72.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.MercadoLibre’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the company earned $7.83 earnings per share. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS 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.