184 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 184 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors also recently modified their holdings of MELI. O Dell Group LLC raised its holdings in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after purchasing an additional 6 shares during the period. Independent Advisor Alliance raised its position in shares of MercadoLibre by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after purchasing an additional 7 shares during the period. Hilltop National Bank raised its position in shares of MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares during the period. Finally, Contravisory Investment Management Inc. raised its position in shares of MercadoLibre by 5.1% in the second quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock valued at $235,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Citigroup lifted their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Finally, StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,182.92.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,122.37 on Monday. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,143.96. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $1,860.84 and its 200 day simple moving average is $1,673.87. The firm has a market capitalization of $107.60 billion, a PE ratio of 94.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the firm posted $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. On average, analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal 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.