Boomfish Wealth Group LLC Trims Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Boomfish Wealth Group LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,497 shares of the company’s stock after selling 27 shares during the period. MercadoLibre comprises 1.6% of Boomfish Wealth Group LLC’s portfolio, making the stock its 20th largest position. Boomfish Wealth Group LLC’s holdings in MercadoLibre were worth $2,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MELI. First PREMIER Bank bought a new position in MercadoLibre during the 1st quarter worth approximately $27,000. Archer Investment Corp bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $31,000. Larson Financial Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $36,000. DSM Capital Partners LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $36,000. Finally, Scarborough Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MELI. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a report on Tuesday, April 23rd. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Citigroup raised their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, The Goldman Sachs Group raised their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,020.00.

MercadoLibre Price Performance

Shares of MELI traded down $18.47 during trading hours on Friday, hitting $1,977.97. 245,078 shares of the company were exchanged, compared to its average volume of 370,006. The company has a market capitalization of $100.28 billion, a PE ratio of 88.50, a PEG ratio of 1.13 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The firm has a fifty day simple moving average of $1,691.08 and a 200-day simple moving average of $1,631.10. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $1,999.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company’s revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company posted $5.16 EPS. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current year.

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.