Reston Wealth Management LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

by · The Markets Daily

Reston Wealth Management LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 90 shares of the company’s stock, valued at approximately $185,000.

Other hedge funds have also bought and sold shares of the company. Raymond James & Associates raised its stake in MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after buying an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the last quarter. Caprock Group LLC boosted its position in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP increased its holdings in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in shares of MercadoLibre in the second quarter valued at $875,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on MELI shares. Susquehanna lifted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Morgan Stanley increased their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Citigroup increased their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three 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 a consensus target price of $2,301.67.

Check Out Our Latest Research Report on MELI

MercadoLibre Trading Up 0.8 %

Shares of MELI opened at $2,037.18 on Friday. 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 52-week low of $1,205.80 and a 52-week high of $2,161.73. The firm has a market cap of $103.29 billion, a price-to-earnings ratio of 73.62, a PEG ratio of 1.23 and a beta of 1.61. The business’s fifty day moving average is $2,049.29 and its 200-day moving average is $1,797.09.

MercadoLibre (NASDAQ:MELI – Get Free Report) 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. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The business’s quarterly revenue was up 41.5% on a year-over-year basis. Equities analysts anticipate that MercadoLibre, Inc. will post 37.7 EPS for the current fiscal year.

MercadoLibre Profile

(Free Report)

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.

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