RPg Family Wealth Advisory LLC Takes $200,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

RPg Family Wealth Advisory LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 122 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. First PREMIER Bank acquired a new position in MercadoLibre during the first quarter valued at $27,000. Financial Connections Group Inc. acquired a new position in MercadoLibre during the second quarter valued at $36,000. DSM Capital Partners LLC acquired a new position in MercadoLibre during the fourth quarter valued at $36,000. Finally, Scarborough Advisors LLC acquired a new position 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 1.5 %

Shares of MELI stock opened at $2,074.26 on Wednesday. The stock’s 50 day simple moving average is $1,876.32 and its 200 day simple moving average is $1,680.72. 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 twelve month low of $1,141.04 and a twelve month high of $2,143.96. The company has a market capitalization of $105.16 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business earned $5.16 EPS. The firm’s revenue was up 41.5% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Cantor Fitzgerald assumed coverage on MercadoLibre in a research report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price target on the stock. Barclays upped their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. BTIG Research raised their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Bank of America raised their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,182.92.

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.