MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,064 shares of the company’s stock after purchasing an additional 18 shares during the period. Bleakley Financial Group LLC’s holdings in MercadoLibre were worth $2,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. American International Group Inc. increased its position in MercadoLibre by 2.9% during the 4th quarter. American International Group Inc. now owns 3,513 shares of the company’s stock worth $5,521,000 after purchasing an additional 100 shares during the period. Vanguard Group Inc. increased its position in MercadoLibre by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock worth $286,636,000 after purchasing an additional 3,577 shares during the period. Park Avenue Securities LLC increased its position in MercadoLibre by 12.8% during the 1st quarter. Park Avenue Securities LLC now owns 1,705 shares of the company’s stock worth $2,578,000 after purchasing an additional 194 shares during the period. Salem Investment Counselors Inc. grew its holdings in shares of MercadoLibre by 501.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 481 shares of the company’s stock worth $727,000 after acquiring an additional 401 shares during the period. Finally, First PREMIER Bank acquired a new stake in shares of MercadoLibre in the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.7 %

Shares of MercadoLibre stock opened at $2,079.79 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The firm has a market cap of $105.44 billion, a PE ratio of 93.06, a P/E/G ratio of 1.25 and a beta of 1.61. The business’s fifty day moving average is $2,034.69 and its two-hundred day moving average is $1,763.90. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.16 EPS. Analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Morgan Stanley upped their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Redburn Atlantic initiated coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Citigroup upped their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Barclays upped their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,283.00.

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.