Signify Wealth Takes $224,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Signify Wealth purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 109 shares of the company’s stock, valued at approximately $224,000. MercadoLibre makes up about 0.3% of Signify Wealth’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of MELI. Norden Group LLC acquired a new stake in MercadoLibre in the first quarter valued at approximately $293,000. Private Advisor Group LLC increased its stake in MercadoLibre by 4.5% during the 1st quarter. Private Advisor Group LLC now owns 554 shares of the company’s stock worth $838,000 after buying an additional 24 shares during the period. Janney Montgomery Scott LLC lifted its holdings in MercadoLibre by 8.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,326 shares of the company’s stock worth $8,053,000 after buying an additional 414 shares in the last quarter. Whittier Trust Co. boosted its position in MercadoLibre by 26.1% in the 1st quarter. Whittier Trust Co. now owns 1,195 shares of the company’s stock valued at $1,807,000 after buying an additional 247 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of MercadoLibre by 14.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 669 shares of the company’s stock valued at $1,011,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Barclays upped their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three equities research 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. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $6.63 during trading on Monday, hitting $2,061.53. 16,645 shares of the stock were exchanged, compared to its average volume of 344,093. The company has a market capitalization of $104.51 billion, a price-to-earnings ratio of 72.69, a price-to-earnings-growth ratio of 1.24 and a beta of 1.61. 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 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company’s fifty day simple moving average is $2,050.38 and its 200-day simple moving average is $1,807.21.

MercadoLibre (NASDAQ:MELI) last issued 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. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the business earned $5.16 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 37.7 EPS for the current fiscal year.

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.