Tectonic Advisors LLC Acquires 38 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Tectonic Advisors LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 30.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163 shares of the company’s stock after acquiring an additional 38 shares during the period. Tectonic Advisors LLC’s holdings in MercadoLibre were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MELI. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares in the last quarter. Optimum Investment Advisors grew its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the second quarter valued at approximately $36,000. Quarry LP purchased a new stake in shares of MercadoLibre in the second quarter worth $43,000. Finally, NBC Securities Inc. increased its holdings in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 0.4 %

MercadoLibre stock opened at $2,047.35 on Friday. MercadoLibre, Inc. has a 12-month low of $1,162.73 and a 12-month high of $2,161.73. The firm has a market capitalization of $103.80 billion, a price-to-earnings ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61. The firm has a 50 day moving average of $2,047.08 and a 200 day moving average of $1,781.70. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) 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 firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the company posted $5.16 earnings per share. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MELI shares. Barclays increased their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.