Heritage Wealth Management Inc. CA Makes New $259,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Heritage Wealth Management Inc. CA acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, Holdings Channel.com reports. The firm acquired 126 shares of the company’s stock, valued at approximately $259,000.

Other institutional investors have also modified their holdings of the company. GQG Partners LLC lifted its stake in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at $2,913,000. Janus Henderson Group PLC raised its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Finally, Capital World Investors lifted its position in MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.7 %

Shares of MercadoLibre stock opened at $2,079.79 on Monday. The business has a 50 day moving average price of $2,034.69 and a 200 day moving average price of $1,765.73. The company has a market capitalization of $105.44 billion, a P/E ratio of 93.06, a P/E/G ratio of 1.25 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, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,161.73.

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

Analyst Ratings Changes

MELI has been the subject of several analyst reports. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, BTIG Research raised their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,283.00.

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.