MercadoLibre, Inc. $MELI Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261 shares of the company’s stock after selling 13 shares during the period. Marks Group Wealth Management Inc’s holdings in MercadoLibre were worth $682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Optimize Financial Inc increased its stake in shares of MercadoLibre by 1.7% in the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after acquiring an additional 4 shares during the last quarter. Sonora Investment Management Group LLC increased its position in MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock worth $328,000 after purchasing an additional 5 shares during the last quarter. Beacon Capital Management LLC raised its stake in MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock worth $127,000 after purchasing an additional 5 shares during the period. Range Financial Group LLC boosted its holdings in MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after purchasing an additional 5 shares during the last quarter. Finally, Forum Financial Management LP grew its stake 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 buying an additional 6 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on MELI shares. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Barclays lowered their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,822.78.

MercadoLibre Stock Performance

Shares of MELI opened at $2,154.22 on Tuesday. The stock has a 50-day simple moving average of $2,378.30 and a 200-day simple moving average of $2,345.89. The stock has a market capitalization of $109.22 billion, a PE ratio of 53.20, a PEG ratio of 1.45 and a beta of 1.46. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. 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 (NASDAQ:MELI) last posted 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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the business earned $10.48 earnings per share. The company’s quarterly revenue was up 33.8% on a year-over-year basis. On average, analysts predict 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.