GM Advisory Group LLC Purchases Shares of 124 MercadoLibre, Inc. (NASDAQ:MELI)

GM Advisory Group LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 124 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently modified their holdings of MELI. First PREMIER Bank purchased a new stake in shares of MercadoLibre in the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the last quarter. DSM Capital Partners LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $36,000. Scarborough Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $36,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the second quarter worth about $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,103.75 on Friday. The business has a 50 day simple moving average of $1,899.17 and a two-hundred day simple moving average of $1,690.40. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,157.64. The stock has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the firm earned $5.16 earnings per share. The business’s revenue was up 41.5% compared to the same quarter last year. As a group, analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on MELI. Cantor Fitzgerald began coverage on MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price on the stock. BTIG Research increased their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Susquehanna increased their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Morgan Stanley increased their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre 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.