BLB&B Advisors LLC Purchases Shares of 108 MercadoLibre, Inc. (NASDAQ:MELI)

BLB&B Advisors LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 108 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also modified their holdings of MELI. Vanguard Group Inc. increased its holdings in MercadoLibre by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock valued at $286,636,000 after buying an additional 3,577 shares during the period. Future Financial Wealth Managment LLC bought a new stake in MercadoLibre in the first quarter valued at about $73,000. Wealth Enhancement Advisory Services LLC raised its position in MercadoLibre by 19.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock worth $3,753,000 after purchasing an additional 396 shares in the last quarter. Dohj LLC raised its position in MercadoLibre by 4.0% in the first quarter. Dohj LLC now owns 338 shares of the company’s stock worth $511,000 after purchasing an additional 13 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new position in MercadoLibre during the first quarter worth about $68,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,038.70 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The firm has a 50 day simple moving average of $2,044.50 and a 200 day simple moving average of $1,775.88. MercadoLibre, Inc. has a fifty-two week low of $1,162.73 and a fifty-two week high of $2,161.73. The firm has a market cap of $103.36 billion, a P/E ratio of 91.22, a P/E/G ratio of 1.25 and a beta of 1.61.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a research report on Monday, October 7th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a report on Wednesday, October 2nd. Finally, Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Three investment 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, the stock has an average 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.