Focus Financial Network Inc. Purchases 16 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

by · The Markets Daily

Focus Financial Network Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 6.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 272 shares of the company’s stock after buying an additional 16 shares during the quarter. Focus Financial Network Inc.’s holdings in MercadoLibre were worth $558,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. O Dell Group LLC raised its stake in shares of MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after buying an additional 6 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC lifted its stake in shares of MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares during the period. Finally, Strategic Blueprint LLC boosted its position in shares of MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after purchasing an additional 6 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.9 %

Shares of MercadoLibre stock opened at $2,054.90 on Friday. MercadoLibre, Inc. has a 52-week low of $1,310.31 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The business’s 50 day simple moving average is $2,050.38 and its 200 day simple moving average is $1,804.35. The firm has a market cap of $104.18 billion, a PE ratio of 74.26, a P/E/G ratio of 1.24 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.16 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. BTIG Research upped their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group upped their target price on shares of 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, Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

View Our Latest Research Report on MercadoLibre

About MercadoLibre

(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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