Atomi Financial Group Inc. Has $2.04 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Atomi Financial Group Inc. increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 234.3% during the third quarter, HoldingsChannel reports. The fund owned 993 shares of the company’s stock after acquiring an additional 696 shares during the quarter. Atomi Financial Group Inc.’s holdings in MercadoLibre were worth $2,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. First PREMIER Bank bought a new stake in MercadoLibre in the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. grew 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 worth $28,000 after purchasing an additional 16 shares in the last quarter. Scarborough Advisors LLC bought a new stake in MercadoLibre in the 4th quarter worth about $36,000. Financial Connections Group Inc. bought a new stake in MercadoLibre in the 2nd quarter worth about $36,000. Finally, Transcendent Capital Group LLC bought a new stake in MercadoLibre in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.6 %

MELI opened at $2,014.23 on Wednesday. The company has a 50 day moving average of $1,982.23 and a 200 day moving average of $1,732.30. The company has a market cap of $102.12 billion, a PE ratio of 90.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month 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 released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, sell-side analysts expect that MercadoLibre, Inc. will post 35.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MELI. Citigroup upped their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Susquehanna increased their target price 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. Finally, The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,246.07.

MercadoLibre Company 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.