Masso Torrence Wealth Management Inc. Has $294,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Masso Torrence Wealth Management Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 179 shares of the company’s stock after acquiring an additional 7 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in MercadoLibre were worth $294,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First PREMIER Bank acquired a new position in MercadoLibre during the first quarter worth $27,000. Larson Financial Group LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth about $36,000. DSM Capital Partners LLC bought a new position in MercadoLibre in the 4th quarter valued at about $36,000. Scarborough Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $36,000. Finally, Transcendent Capital Group LLC bought a new stake in MercadoLibre during the 4th quarter worth approximately $38,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MELI shares. BTIG Research raised their target price on MercadoLibre from $1,885.00 to $2,025.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays raised their price objective on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,045.00.

MercadoLibre Stock Performance

Shares of MELI stock traded down $22.34 on Tuesday, hitting $2,005.66. 225,202 shares of the stock were exchanged, compared to its average volume of 369,303. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,029.99. The firm’s 50 day moving average is $1,708.12 and its two-hundred day moving average is $1,634.14. The firm has a market capitalization of $101.68 billion, a PE ratio of 89.74, a P/E/G ratio of 1.13 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.16 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 33.4 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.