MercadoLibre, Inc. (NASDAQ:MELI) Stake Boosted by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198 shares of the company’s stock after purchasing an additional 7 shares during the period. 1620 Investment Advisors Inc.’s holdings in MercadoLibre were worth $407,000 at the end of the most recent reporting period.

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

MercadoLibre Price Performance

NASDAQ MELI opened at $2,020.72 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,205.80 and a 1 year high of $2,161.73. The stock’s 50-day moving average price is $2,048.32 and its two-hundred day moving average price is $1,795.41. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market cap of $102.44 billion, a PE ratio of 90.41, a PEG ratio of 1.26 and a beta of 1.61.

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. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 price objective on shares of MercadoLibre in a research report on Monday, October 7th. BTIG Research boosted their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley raised their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,301.67.

About MercadoLibre

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.