Raymond James & Associates Acquires 5,354 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Raymond James & Associates lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 40,194 shares of the company’s stock after purchasing an additional 5,354 shares during the period. Raymond James & Associates’ holdings in MercadoLibre were worth $82,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. O Dell Group LLC raised its stake in shares of MercadoLibre by 2.1% in the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares during the last quarter. Belpointe Asset Management LLC raised its position in MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC boosted its holdings in MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after acquiring an additional 6 shares during the last quarter. Finally, Hilltop National Bank lifted its position in shares of MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,079.79 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The stock has a market cap of $105.44 billion, a PE ratio of 93.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The stock has a fifty day moving average of $2,034.69 and a 200-day moving average of $1,765.73.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 EPS. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a research report on Monday, October 7th. BTIG Research raised their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Bank of America boosted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley raised their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,283.00.

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.