Galvin Gaustad & Stein LLC Buys Shares of 3,484 MercadoLibre, Inc. $MELI

Galvin Gaustad & Stein LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel reports. The firm bought 3,484 shares of the company’s stock, valued at approximately $9,106,000.

Several other large investors have also recently made changes to their positions in MELI. Optimize Financial Inc lifted its holdings in MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after buying an additional 4 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock worth $127,000 after buying an additional 5 shares in the last quarter. Range Financial Group LLC lifted its holdings in MercadoLibre by 2.7% during the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after buying an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in MercadoLibre by 26.3% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after buying an additional 5 shares in the last quarter. Finally, Forum Financial Management LP lifted its holdings in MercadoLibre by 3.1% during the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after buying an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 4.4%

MELI stock opened at $2,275.00 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 has a market cap of $115.34 billion, a P/E ratio of 56.19, a P/E/G ratio of 1.46 and a beta of 1.46. The company’s 50-day moving average price is $2,368.34 and its 200 day moving average price is $2,344.62. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.48 EPS. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday. Finally, Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,814.44.

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.