Soltis Investment Advisors LLC Buys New Shares in MercadoLibre, Inc. $MELI

Soltis Investment Advisors LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 134 shares of the company’s stock, valued at approximately $349,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Souders Financial Advisors increased its holdings in shares of MercadoLibre by 18.0% in the second quarter. Souders Financial Advisors now owns 144 shares of the company’s stock worth $376,000 after buying an additional 22 shares during the period. Achmea Investment Management B.V. increased its stake in MercadoLibre by 10.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock worth $13,921,000 after purchasing an additional 525 shares during the period. Waverton Investment Management Ltd increased its stake in MercadoLibre by 1.6% in the 2nd quarter. Waverton Investment Management Ltd now owns 21,349 shares of the company’s stock worth $55,763,000 after purchasing an additional 328 shares during the period. Ethos Financial Group LLC boosted its stake in shares of MercadoLibre by 28.6% during the second quarter. Ethos Financial Group LLC now owns 1,552 shares of the company’s stock valued at $4,056,000 after purchasing an additional 345 shares during the period. Finally, Stone House Investment Management LLC bought a new position in shares of MercadoLibre in the second quarter worth approximately $39,000. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MELI. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Barclays upped their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Morgan Stanley increased their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,108.60 on Friday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a market capitalization of $106.90 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.56 and a beta of 1.51. The company’s 50-day moving average is $2,290.36 and its 200 day moving average is $2,375.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the firm posted $7.83 earnings per share. The business’s revenue was up 39.5% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.