Kingsview Wealth Management LLC Purchases New Holdings in MercadoLibre, Inc. $MELI

Kingsview Wealth Management LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 898 shares of the company’s stock, valued at approximately $1,524,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $2,246,015,000. Jupiter Topco LLC bought a new position in shares of MercadoLibre in the second quarter valued at $917,123,000. Linonia Partnership LP grew its stake in shares of MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after buying an additional 423,527 shares in the last quarter. Capital Research Global Investors increased its holdings in MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Finally, Norges Bank acquired a new position in MercadoLibre during the fourth quarter worth $597,045,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,966.25 on Friday. The company has a market cap of $99.69 billion, a P/E ratio of 53.47, a P/E/G ratio of 1.35 and a beta of 1.34. The firm’s fifty day moving average price is $1,824.45 and its two-hundred day moving average price is $1,772.36. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company posted $10.31 EPS. Equities analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. Finally, Cantor Fitzgerald lifted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.