Parsons Capital Management Inc. RI Acquires New Position in MercadoLibre, Inc. $MELI

Parsons Capital Management Inc. RI bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 100 shares of the company’s stock, valued at approximately $261,000.

A number of other large investors also recently made changes to their positions in the stock. Key Financial Inc bought a new stake in MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter worth about $25,000. Close Asset Management Ltd increased its stake in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group raised its position in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP bought a new position in MercadoLibre during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup lowered 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 note on Monday, August 18th. Barclays lowered their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a report on Saturday, September 27th. Wall Street Zen cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Finally, JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,822.78.

MercadoLibre Stock Down 3.3%

Shares of MercadoLibre stock opened at $2,172.75 on Friday. The firm has a market cap of $110.16 billion, a PE ratio of 53.66, a P/E/G ratio of 1.49 and a beta of 1.46. The business’s 50 day simple moving average is $2,382.29 and its 200 day simple moving average is $2,341.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.MercadoLibre’s revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business earned $10.48 earnings per share. On average, analysts predict 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.