RFG Advisory LLC Has $2.95 Million Stake in MercadoLibre, Inc. $MELI

RFG Advisory LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 32.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,736 shares of the company’s stock after purchasing an additional 423 shares during the quarter. RFG Advisory LLC’s holdings in MercadoLibre were worth $2,946,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $28,000. Wedbush Fund Advisers LLC bought a new stake in MercadoLibre in the second quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter valued at about $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.6%

Shares of MELI opened at $1,906.24 on Friday. The stock has a fifty day moving average price of $1,875.45 and a two-hundred day moving average price of $1,767.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a market cap of $96.65 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 1.29 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business’s revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.31 earnings per share. Analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MELI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup lifted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.