112 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Grandview Asset Management LLC

Grandview Asset Management LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 112 shares of the company’s stock, valued at approximately $230,000.

Several other institutional investors also recently bought and sold shares of MELI. Waycross Investment Management Co lifted its position in shares of MercadoLibre by 1.4% in the third quarter. Waycross Investment Management Co now owns 574 shares of the company’s stock valued at $1,178,000 after acquiring an additional 8 shares in the last quarter. Paragon Capital Management Inc. raised its stake in MercadoLibre by 6.8% in the 2nd quarter. Paragon Capital Management Inc. now owns 1,382 shares of the company’s stock valued at $2,271,000 after purchasing an additional 88 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in MercadoLibre by 71.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,192 shares of the company’s stock valued at $56,191,000 after purchasing an additional 14,192 shares in the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in MercadoLibre by 211.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 689 shares of the company’s stock worth $1,132,000 after purchasing an additional 468 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of MercadoLibre during the second quarter worth $3,855,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MELI. Cantor Fitzgerald restated an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a research report on Monday, September 23rd. Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research increased their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective on the stock. in a research note on Wednesday. Finally, Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,246.07.

MercadoLibre Trading Up 0.0 %

Shares of NASDAQ:MELI traded up $0.80 during midday trading on Friday, reaching $1,960.00. 315,878 shares of the company’s stock were exchanged, compared to its average volume of 355,040. The stock has a market cap of $99.37 billion, a price-to-earnings ratio of 87.70, a P/E/G ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The firm’s 50 day simple moving average is $1,975.39 and its two-hundred day simple moving average is $1,728.02. 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 quarterly 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 business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business earned $5.16 earnings per share. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 35.79 EPS 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.