Investment Partners Asset Management Inc. Buys 8 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Investment Partners Asset Management Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 232 shares of the company’s stock after acquiring an additional 8 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in MercadoLibre were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MELI. Migdal Insurance & Financial Holdings Ltd. grew 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 worth $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors increased its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre during the 2nd quarter valued at about $36,000. Quarry LP bought a new stake in MercadoLibre during the second quarter worth about $43,000. Finally, NBC Securities Inc. grew its holdings in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.1 %

NASDAQ:MELI traded down $2.71 during midday trading on Monday, hitting $2,044.64. 62,530 shares of the company were exchanged, compared to its average volume of 344,603. MercadoLibre, Inc. has a fifty-two week low of $1,205.80 and a fifty-two week high of $2,161.73. The company has a market capitalization of $103.66 billion, a PE ratio of 91.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. 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 fifty day simple moving average of $2,047.08 and a 200 day simple moving average of $1,785.86.

MercadoLibre (NASDAQ:MELI) last released 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. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the company posted $5.16 earnings per share. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Susquehanna boosted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Three research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

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.