Clay Northam Wealth Management LLC Makes New $219,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Clay Northam Wealth Management LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 133 shares of the company’s stock, valued at approximately $219,000.

A number of other large investors have also bought and sold shares of MELI. First PREMIER Bank bought a new stake in MercadoLibre during the first quarter valued at $27,000. Archer Investment Corp bought a new stake in MercadoLibre during the fourth quarter valued at $31,000. Larson Financial Group LLC bought a new stake in MercadoLibre during the fourth quarter valued at $36,000. DSM Capital Partners LLC bought a new stake in MercadoLibre during the fourth quarter valued at $36,000. Finally, Scarborough Advisors LLC bought a new stake in MercadoLibre during the fourth quarter valued at $36,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 0.9 %

Shares of NASDAQ:MELI traded down $18.47 during trading hours on Friday, reaching $1,977.97. The stock had a trading volume of 245,078 shares, compared to its average volume of 370,006. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $1,999.00. The firm’s 50 day moving average is $1,691.08 and its 200-day moving average is $1,630.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The stock has a market capitalization of $100.28 billion, a price-to-earnings ratio of 88.50, a P/E/G ratio of 1.13 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The company’s revenue was up 41.5% on a year-over-year basis. During the same period last year, the firm posted $5.16 EPS. Research analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MELI. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research note on Tuesday, April 23rd. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price target for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. BTIG Research lifted their price target on MercadoLibre from $1,885.00 to $2,025.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,020.00.

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.