Bulltick Wealth Management LLC Has $9.10 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Bulltick Wealth Management LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 27.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,537 shares of the company’s stock after purchasing an additional 1,190 shares during the quarter. MercadoLibre accounts for 2.2% of Bulltick Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Bulltick Wealth Management LLC’s holdings in MercadoLibre were worth $9,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. First PREMIER Bank acquired a new stake in MercadoLibre in the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. DSM Capital Partners LLC acquired a new stake in MercadoLibre in the 4th quarter valued at $36,000. Scarborough Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. acquired a new position in MercadoLibre during the second quarter worth $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,103.75 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,157.64. The company’s 50-day moving average is $1,899.17 and its 200 day moving average is $1,690.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61.

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

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. BTIG Research increased their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Cantor Fitzgerald began coverage on MercadoLibre in a research report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,207.31.

About MercadoLibre

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.