Evermay Wealth Management LLC Has $256,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Evermay Wealth Management LLC lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 32.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 125 shares of the company’s stock after selling 59 shares during the quarter. Evermay Wealth Management LLC’s holdings in MercadoLibre were worth $256,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the second quarter valued at approximately $36,000. Quarry LP bought a new position in MercadoLibre in the 2nd quarter valued at approximately $43,000. Finally, NBC Securities Inc. grew its position in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Trading Down 2.0 %

Shares of MercadoLibre stock traded down $39.57 on Wednesday, reaching $1,987.00. The company had a trading volume of 104,797 shares, compared to its average volume of 344,497. MercadoLibre, Inc. has a 1 year low of $1,205.80 and a 1 year high of $2,161.73. The firm has a market cap of $100.73 billion, a price-to-earnings ratio of 90.67, a P/E/G ratio of 1.26 and a beta of 1.61. The firm’s 50-day moving average price is $2,048.06 and its two-hundred day moving average price is $1,793.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the company posted $5.16 earnings per share. The business’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

MercadoLibre Company 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.