Inspire Advisors LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Inspire Advisors LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 244 shares of the company’s stock, valued at approximately $401,000.

A number of other hedge funds have also modified their holdings of the business. First PREMIER Bank acquired a new stake in MercadoLibre in the 1st quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. DSM Capital Partners LLC acquired a new position in MercadoLibre during the 4th quarter worth about $36,000. Scarborough Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. acquired a new position in MercadoLibre in the 2nd quarter valued at about $36,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,122.37 on Friday. The firm has a market capitalization of $107.60 billion, a P/E ratio of 94.96, a P/E/G ratio of 1.33 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,143.96. The firm’s 50 day moving average is $1,860.84 and its two-hundred day moving average is $1,673.21.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating 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 firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $5.16 EPS. The company’s revenue was up 41.5% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MELI. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Citigroup raised their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, BTIG Research increased their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,182.92.

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.