Ariadne Wealth Management LP Invests $339,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Ariadne Wealth Management LP acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent filing with the SEC. The firm acquired 206 shares of the company’s stock, valued at approximately $339,000.

A number of other large investors have also recently made changes to their positions in the business. Cetera Investment Advisers grew its position in shares of MercadoLibre by 6.8% in the 2nd quarter. Cetera Investment Advisers now owns 6,163 shares of the company’s stock worth $10,129,000 after buying an additional 392 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $5,208,000. Ted Buchan & Co purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $371,000. EP Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $240,000. Finally, Brown Shipley& Co Ltd lifted its stake in shares of MercadoLibre by 101.8% in the 2nd quarter. Brown Shipley& Co Ltd now owns 115 shares of the company’s stock valued at $189,000 after purchasing an additional 58 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,051.96 on Tuesday. 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 company has a market capitalization of $104.03 billion, a price-to-earnings ratio of 91.81, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. The stock’s 50-day simple moving average is $1,948.50 and its 200-day simple moving average is $1,716.05.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the previous year, the business earned $5.16 earnings per share. As a group, analysts expect that MercadoLibre, Inc. will post 35.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MELI shares. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Raymond James started coverage on MercadoLibre in a research note on Friday. They set an “outperform” rating and a $2,350.00 price objective for the company. Morgan Stanley lifted their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, BTIG Research lifted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,217.50.

About MercadoLibre

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.