Atomi Financial Group Inc. Purchases 73 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Atomi Financial Group Inc. increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 32.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297 shares of the company’s stock after acquiring an additional 73 shares during the period. Atomi Financial Group Inc.’s holdings in MercadoLibre were worth $488,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in MercadoLibre during the second quarter valued at $255,000. SlateStone Wealth LLC lifted its position in shares of MercadoLibre by 3.0% in the second quarter. SlateStone Wealth LLC now owns 991 shares of the company’s stock valued at $1,629,000 after acquiring an additional 29 shares in the last quarter. IMA Advisory Services Inc. lifted its position in shares of MercadoLibre by 35.0% in the second quarter. IMA Advisory Services Inc. now owns 1,250 shares of the company’s stock valued at $2,054,000 after acquiring an additional 324 shares in the last quarter. First Heartland Consultants Inc. lifted its position in shares of MercadoLibre by 15.0% in the second quarter. First Heartland Consultants Inc. now owns 498 shares of the company’s stock valued at $818,000 after acquiring an additional 65 shares in the last quarter. Finally, Aries Wealth Management purchased a new position in shares of MercadoLibre in the second quarter valued at about $329,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a research report on Friday, May 3rd. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Citigroup boosted their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Susquehanna boosted their target price on MercadoLibre from $2,000.00 to $2,300.00 and gave the stock a “positive” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,063.75.

MercadoLibre Trading Up 1.6 %

Shares of MELI traded up $31.51 during mid-day trading on Tuesday, reaching $2,036.21. 272,065 shares of the company’s stock traded hands, compared to its average volume of 364,459. The stock has a market cap of $103.23 billion, a P/E ratio of 91.11, a P/E/G ratio of 1.13 and a beta of 1.60. The stock’s 50-day moving average is $1,741.72 and its two-hundred day moving average is $1,641.67. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,048.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last released 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 analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.16 earnings per share. Research analysts forecast that MercadoLibre, Inc. will post 33.4 earnings per share 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.