Optimum Investment Advisors Has $35,000 Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Optimum Investment Advisors boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 750.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17 shares of the company’s stock after purchasing an additional 15 shares during the quarter. Optimum Investment Advisors’ holdings in MercadoLibre were worth $35,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC increased its holdings in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD increased its stake in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares during the period. Strategic Financial Concepts LLC acquired a new position in MercadoLibre in the 2nd quarter valued at $2,913,000. Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. Finally, Capital World Investors grew its holdings in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MELI shares. BTIG Research boosted their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup boosted their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday, October 2nd. Finally, Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Three 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,283.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,079.79 on Friday. The firm has a market capitalization of $105.44 billion, a price-to-earnings ratio of 93.06, a PEG ratio of 1.25 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $2,034.69 and its 200-day moving average price is $1,762.16. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its earnings results 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 business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the company earned $5.16 EPS. The firm’s revenue was up 41.5% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 37.55 EPS for the current 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.