MercadoLibre, Inc. $MELI Holdings Increased by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 47.2% in the third quarter, Holdings Channel.com reports. The firm owned 1,175 shares of the company’s stock after acquiring an additional 377 shares during the quarter. Chemistry Wealth Management LLC’s holdings in MercadoLibre were worth $2,032,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. boosted its holdings in MercadoLibre by 5.2% in the first quarter. Total Clarity Wealth Management Inc. now owns 122 shares of the company’s stock valued at $211,000 after acquiring an additional 6 shares during the last quarter. Y.D. More Investments Ltd grew its stake in MercadoLibre by 24.0% during the first quarter. Y.D. More Investments Ltd now owns 31 shares of the company’s stock worth $53,000 after buying an additional 6 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of MercadoLibre by 2.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company’s stock valued at $367,000 after acquiring an additional 6 shares in the last quarter. Moody National Bank Trust Division raised its position in MercadoLibre by 0.8% in the second quarter. Moody National Bank Trust Division now owns 733 shares of the company’s stock valued at $1,244,000 after purchasing an additional 6 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of MercadoLibre by 0.5% in the second quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company’s stock valued at $2,083,000 after buying an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Susquehanna increased their price objective on shares of MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research note on Tuesday, October 6th. BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, September 3rd. Citigroup reduced their price target on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, New Street Research initiated coverage on MercadoLibre in a research report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price target on the stock. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,251.88.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,834.00 on Friday. The stock’s fifty day simple moving average is $1,863.15 and its 200 day simple moving average is $1,783.74. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $92.98 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 1.30 and a beta of 1.31. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,428.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. MercadoLibre’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.31 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 38.13 earnings per share for the current fiscal year.

MercadoLibre Company Profile

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.