Heirloom Wealth Management Has $6.99 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Heirloom Wealth Management increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,407 shares of the company’s stock after buying an additional 57 shares during the quarter. MercadoLibre accounts for about 2.2% of Heirloom Wealth Management’s holdings, making the stock its 17th biggest holding. Heirloom Wealth Management’s holdings in MercadoLibre were worth $6,991,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First PREMIER Bank bought a new position in shares of MercadoLibre in the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. increased its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in MercadoLibre in the 2nd quarter valued at approximately $36,000. Finally, Quarry LP acquired a new stake in MercadoLibre in the second quarter valued at approximately $43,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Stock Performance

MELI stock opened at $2,065.87 on Friday. The firm has a market cap of $104.73 billion, a PE ratio of 92.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $2,030.77 and a 200-day moving average price of $1,758.33. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last released its earnings results 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 return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the firm posted $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current 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.