Exchange Traded Concepts LLC Grows Position in MercadoLibre, Inc. $MELI

by · The Cerbat Gem

Exchange Traded Concepts LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 213.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,232 shares of the company’s stock after acquiring an additional 8,334 shares during the period. Exchange Traded Concepts LLC’s holdings in MercadoLibre were worth $31,970,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Optimize Financial Inc increased its position in shares of MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the last quarter. Formidable Asset Management LLC increased its position in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after purchasing an additional 5 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after purchasing an additional 5 shares during the last quarter. Sonora Investment Management Group LLC increased its position in shares of MercadoLibre by 3.1% during the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after purchasing an additional 5 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in shares of MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after purchasing an additional 5 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 2.4%

MercadoLibre stock opened at $2,446.32 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $2,379.33 and its two-hundred day simple moving average is $2,311.06. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a market capitalization of $124.02 billion, a price-to-earnings ratio of 60.42, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI – Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the firm posted $10.48 earnings per share. The company’s revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on MELI. Wall Street Zen cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Citigroup decreased their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Finally, Barclays reduced their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,817.22.

View Our Latest Stock Analysis 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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