208 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 208 shares of the company’s stock, valued at approximately $427,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HWG Holdings LP acquired a new position in shares of MercadoLibre during the 3rd quarter worth $269,000. Heritage Oak Wealth Advisors LLC acquired a new position in MercadoLibre during the third quarter worth about $211,000. Busey Bank grew its position in MercadoLibre by 7.6% during the third quarter. Busey Bank now owns 142 shares of the company’s stock worth $291,000 after buying an additional 10 shares during the period. Tectonic Advisors LLC lifted its position in shares of MercadoLibre by 30.4% during the 3rd quarter. Tectonic Advisors LLC now owns 163 shares of the company’s stock valued at $334,000 after acquiring an additional 38 shares during the period. Finally, Dakota Wealth Management boosted its stake in shares of MercadoLibre by 156.8% during the 3rd quarter. Dakota Wealth Management now owns 2,545 shares of the company’s stock worth $5,222,000 after acquiring an additional 1,554 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.4 %

NASDAQ MELI opened at $2,047.35 on Friday. The company has a 50-day moving average of $2,047.08 and a 200-day moving average of $1,781.70. 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, Inc. has a 12 month low of $1,162.73 and a 12 month high of $2,161.73. The company has a market cap of $103.80 billion, a P/E ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted 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. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm posted $5.16 earnings per share. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MELI shares. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective on the stock. in a research report on Wednesday, October 2nd. Morgan Stanley raised their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Finally, Citigroup raised their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,301.67.

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.