Valeo Financial Advisors LLC Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Valeo Financial Advisors LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 414 shares of the company’s stock after buying an additional 88 shares during the quarter. Valeo Financial Advisors LLC’s holdings in MercadoLibre were worth $850,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in 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 in the last quarter. First PREMIER Bank bought a new position in shares of MercadoLibre during the first quarter valued at about $27,000. Financial Connections Group Inc. purchased a new position in shares of MercadoLibre in the second quarter worth about $36,000. Scarborough Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $36,000. Finally, Transcendent Capital Group LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $38,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on MELI. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday. They issued a “buy” rating and a $2,800.00 price objective for the company. Barclays lifted their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, BTIG Research increased their target price 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. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,091.16 on Monday. The company has a market capitalization of $106.02 billion, a price-to-earnings ratio of 93.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,161.73. The company’s 50-day moving average is $2,012.56 and its 200 day moving average is $1,746.46.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.16 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

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.