Dakota Wealth Management Has $5.22 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Dakota Wealth Management lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 156.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,545 shares of the company’s stock after buying an additional 1,554 shares during the quarter. Dakota Wealth Management’s holdings in MercadoLibre were worth $5,222,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. Optimum Investment Advisors raised its holdings in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the second quarter worth $36,000. Quarry LP bought a new stake in shares of MercadoLibre in the second quarter worth $43,000. Finally, NBC Securities Inc. grew its position in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,047.35 on Friday. The business’s 50 day moving average is $2,045.69 and its 200-day moving average is $1,777.82. The firm has a market cap of $103.80 billion, a P/E ratio of 73.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,162.73 and a 1-year high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted its 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 during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of several analyst reports. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Barclays boosted their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, BTIG Research increased their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

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.