CreativeOne Wealth LLC Acquires 75 Shares of MercadoLibre, Inc. $MELI

CreativeOne Wealth LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 59.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202 shares of the company’s stock after buying an additional 75 shares during the quarter. CreativeOne Wealth LLC’s holdings in MercadoLibre were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Jennison Associates LLC lifted its position in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. Invesco Ltd. grew its position in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. Generation Investment Management LLP raised its stake in shares of MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after purchasing an additional 16,878 shares during the period. Finally, GQG Partners LLC lifted its holdings in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MELI. Wedbush lifted their target price on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Citigroup cut their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Benchmark lowered their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Stock Up 2.4%

MELI stock opened at $2,082.00 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $2,184.85 and its 200 day moving average is $2,349.84. The stock has a market cap of $105.55 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the firm earned $7.83 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.