Stonegate Investment Group LLC Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Stonegate Investment Group LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,652 shares of the company’s stock after purchasing an additional 53 shares during the quarter. Stonegate Investment Group LLC’s holdings in MercadoLibre were worth $3,390,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First PREMIER Bank purchased a new position in MercadoLibre during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. increased its position 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 worth $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors raised its position in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre in the second quarter worth approximately $36,000. Finally, Quarry LP purchased a new stake in shares of MercadoLibre during the 2nd quarter worth $43,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 0.5 %

NASDAQ:MELI traded down $10.59 during mid-day trading on Friday, reaching $2,055.28. The stock had a trading volume of 46,552 shares, compared to its average volume of 349,076. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company has a market capitalization of $104.20 billion, a price-to-earnings ratio of 92.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The stock’s 50 day simple moving average is $2,030.77 and its two-hundred day simple moving average is $1,758.33.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $5.16 EPS. The business’s quarterly revenue was up 41.5% on a year-over-year basis. Equities analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. 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 report on Thursday, August 8th. Morgan Stanley boosted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Bank of America boosted 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 report on Thursday, September 12th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,283.00.

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.