Abbot Financial Management Inc. Acquires 48 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Abbot Financial Management Inc. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 514 shares of the company’s stock after purchasing an additional 48 shares during the quarter. Abbot Financial Management Inc.’s holdings in MercadoLibre were worth $845,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. First PREMIER Bank purchased a new stake in MercadoLibre in the 1st quarter valued at $27,000. Financial Connections Group Inc. bought a new position in MercadoLibre during the 2nd quarter valued at $36,000. DSM Capital Partners LLC purchased a new position in MercadoLibre during the 4th quarter worth $36,000. Finally, Scarborough Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of MercadoLibre in a research report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price target on the stock. Barclays lifted their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and upped their target price for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Citigroup upped their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,182.92.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,105.51 on Tuesday. The company has a 50-day moving average price of $1,869.28 and a two-hundred day moving average price of $1,677.47. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,143.96. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $106.74 billion, a PE ratio of 94.21, a P/E/G ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current year.

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.