NBC Securities Inc. Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

NBC Securities Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27 shares of the company’s stock after acquiring an additional 7 shares during the quarter. NBC Securities Inc.’s holdings in MercadoLibre were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new position in shares of MercadoLibre in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. grew its position in MercadoLibre by 1,600.0% during 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 during the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre during the 2nd quarter worth $36,000. Quarry LP purchased a new stake in shares of MercadoLibre in the second quarter valued at about $43,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of MercadoLibre by 41.7% during the second quarter. GHP Investment Advisors Inc. now owns 34 shares of the company’s stock worth $56,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MELI. Barclays boosted their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Susquehanna lifted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research note on Wednesday, October 2nd. Finally, Morgan Stanley raised their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,079.79 on Monday. The firm has a market capitalization of $105.44 billion, a price-to-earnings ratio of 93.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The business’s 50 day simple moving average is $2,034.69 and its 200-day simple moving average is $1,765.73. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 earnings per share. As a group, equities analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

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.