J.W. Cole Advisors Inc. Buys 381 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

J.W. Cole Advisors Inc. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 39.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,359 shares of the company’s stock after acquiring an additional 381 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in MercadoLibre were worth $2,789,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in MercadoLibre by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock valued at $286,636,000 after acquiring an additional 3,577 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of MercadoLibre by 19.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock worth $3,753,000 after purchasing an additional 396 shares during the period. Claro Advisors LLC increased its holdings in shares of MercadoLibre by 6.5% in the first quarter. Claro Advisors LLC now owns 197 shares of the company’s stock worth $298,000 after purchasing an additional 12 shares during the period. Deepwater Asset Management LLC raised its position in shares of MercadoLibre by 14.5% in the first quarter. Deepwater Asset Management LLC now owns 9,409 shares of the company’s stock worth $14,226,000 after buying an additional 1,188 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in MercadoLibre during the first quarter valued at $11,827,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MELI. Susquehanna raised their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a research note on Wednesday, October 2nd. Raymond James assumed coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America upped their target price 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. Three investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Trading Down 0.4 %

NASDAQ MELI opened at $2,047.35 on Monday. The firm has a market cap of $103.79 billion, a PE ratio of 91.60, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,162.73 and a 1-year high of $2,161.73. The stock has a 50-day moving average of $2,047.08 and a 200-day moving average of $1,785.86. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company posted $5.16 earnings per share. The business’s revenue was up 41.5% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 37.55 EPS for the current year.

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.