IFG Advisors LLC Takes $213,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

IFG Advisors LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 104 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First PREMIER Bank acquired a new position in MercadoLibre in the 1st quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. raised its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares in the last quarter. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $36,000. Finally, Quarry LP bought a new stake in shares of MercadoLibre in the 2nd quarter valued at about $43,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,079.79 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The stock has a market cap of $105.44 billion, a PE ratio of 93.06, a PEG ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm’s fifty day moving average price is $2,034.69 and its two-hundred day moving average price is $1,762.16.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping 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 analyst estimates of $4.64 billion. During the same period last year, the company posted $5.16 EPS. The business’s quarterly revenue was up 41.5% on a year-over-year basis. On average, equities analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several research analyst reports. Susquehanna upped their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research report on Wednesday, October 2nd. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Finally, BTIG Research upped their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,283.00.

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.