MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.8% during the second quarter, Holdings Channel.com reports. The firm owned 8,531 shares of the company’s stock after acquiring an additional 759 shares during the period. Commonwealth Equity Services LLC’s holdings in MercadoLibre were worth $14,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new stake in MercadoLibre in the second quarter worth approximately $3,290,000. TFB Advisors LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at $215,000. Moloney Securities Asset Management LLC boosted its stake in MercadoLibre by 20.4% during the second quarter. Moloney Securities Asset Management LLC now owns 479 shares of the company’s stock valued at $787,000 after buying an additional 81 shares in the last quarter. International Assets Investment Management LLC bought a new position in MercadoLibre during the second quarter valued at about $199,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in MercadoLibre by 5.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,131 shares of the company’s stock valued at $6,789,000 after buying an additional 231 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,990.17 on Wednesday. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,064.76. The company has a 50-day moving average of $1,793.79 and a two-hundred day moving average of $1,653.59. The stock has a market cap of $100.90 billion, a price-to-earnings ratio of 89.05, a PEG ratio of 1.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period last year, the company posted $5.16 earnings per share. On average, equities research analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MELI shares. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,105.91.

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.