Advisor Resource Council Acquires Shares of 124 MercadoLibre, Inc. (NASDAQ:MELI)

Advisor Resource Council acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 124 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. O Dell Group LLC increased its holdings in shares of MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after purchasing an additional 6 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in shares of MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings 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 purchasing an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in shares of MercadoLibre by 0.3% during 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 in the last quarter. Finally, Strategic Blueprint LLC increased its holdings in shares of MercadoLibre by 0.9% during the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 16.2 %

MercadoLibre stock opened at $1,774.05 on Friday. The stock has a market cap of $89.94 billion, a PE ratio of 64.11, a P/E/G ratio of 1.26 and a beta of 1.61. The stock has a 50-day moving average price of $2,055.08 and a 200 day moving average price of $1,819.36. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.25 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. Equities research analysts predict that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a report on Wednesday, October 2nd. Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Barclays boosted their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday. Three investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,309.67.

MercadoLibre 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.