Ethos Financial Group LLC Acquires 345 Shares of MercadoLibre, Inc. $MELI

Ethos Financial Group LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 28.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,552 shares of the company’s stock after buying an additional 345 shares during the period. Ethos Financial Group LLC’s holdings in MercadoLibre were worth $4,056,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MELI. Ninety One North America Inc. increased its stake in shares of MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after acquiring an additional 1,080 shares during the last quarter. Banco Santander S.A. increased its position in MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Stratos Investment Management LLC purchased a new position in MercadoLibre during the first quarter worth about $203,000. Jennison Associates LLC boosted its holdings in MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. Finally, Costello Asset Management INC grew its stake in shares of MercadoLibre by 434.3% in the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after buying an additional 469 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,301.88 on Thursday. 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 fifty day simple moving average of $2,304.52 and a 200-day simple moving average of $2,377.13. The stock has a market cap of $116.70 billion, a P/E ratio of 56.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MELI shares. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Barclays boosted their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Scotiabank initiated coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price for the company. Susquehanna dropped their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,822.35.

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.