Avity Investment Management Inc. Buys 1,434 Shares of MercadoLibre, Inc. $MELI

Avity Investment Management Inc. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,822 shares of the company’s stock after acquiring an additional 1,434 shares during the period. MercadoLibre comprises approximately 1.4% of Avity Investment Management Inc.’s portfolio, making the stock its 27th biggest holding. Avity Investment Management Inc.’s holdings in MercadoLibre were worth $23,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MELI. Wedmont Private Capital grew its stake in MercadoLibre by 63.9% in the third quarter. Wedmont Private Capital now owns 300 shares of the company’s stock valued at $557,000 after purchasing an additional 117 shares in the last quarter. Athena Wealth Management LLC lifted its holdings in shares of MercadoLibre by 18.4% during the 3rd quarter. Athena Wealth Management LLC now owns 553 shares of the company’s stock valued at $956,000 after buying an additional 86 shares during the last quarter. Stableford Capital II LLC lifted its holdings in shares of MercadoLibre by 34.0% during the 3rd quarter. Stableford Capital II LLC now owns 2,556 shares of the company’s stock valued at $4,418,000 after buying an additional 649 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of MercadoLibre by 5.3% in the 3rd quarter. GAMMA Investing LLC now owns 139 shares of the company’s stock valued at $240,000 after buying an additional 7 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC grew its stake in shares of MercadoLibre by 44.2% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 326 shares of the company’s stock valued at $564,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock traded up $33.19 during trading on Friday, reaching $1,889.85. The company had a trading volume of 321,407 shares, compared to its average volume of 540,601. The firm’s 50 day simple moving average is $1,864.15 and its two-hundred day simple moving average is $1,774.90. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,428.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a market capitalization of $95.82 billion, a PE ratio of 51.40, a PEG ratio of 1.31 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the business earned $10.31 earnings per share. The company’s revenue was up 49.8% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 38.29 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the subject of a number of analyst reports. New Street Research started coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, September 3rd. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Susquehanna upped their price objective on shares of MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a report on Tuesday. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,251.88.

About MercadoLibre

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.