MercadoLibre, Inc. $MELI Stock Holdings Raised by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 47.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,175 shares of the company’s stock after acquiring an additional 377 shares during the quarter. Chemistry Wealth Management LLC’s holdings in MercadoLibre were worth $2,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in MercadoLibre in the 2nd quarter valued at $2,246,015,000. Janus Henderson Group PLC lifted its holdings in MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after acquiring an additional 10,142 shares during the last quarter. Linonia Partnership LP lifted its stake in shares of MercadoLibre by 325.1% in the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares during the last quarter. Jupiter Topco LLC acquired a new position in MercadoLibre in the second quarter valued at about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in MercadoLibre by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock valued at $906,094,000 after purchasing an additional 38,871 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.2%

MELI stock opened at $1,834.00 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company has a fifty day moving average of $1,863.15 and a 200-day moving average of $1,783.74. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,428.00. The stock has a market capitalization of $92.98 billion, a PE ratio of 49.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.31 earnings per share. As a group, analysts expect that MercadoLibre, Inc. will post 38.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MELI shares. Susquehanna boosted their price target on shares of MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research note on Tuesday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a report on Tuesday, September 29th. Citigroup reduced their target price on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating on the stock in a report on Tuesday. New Street Research started coverage on shares of MercadoLibre in a research report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price objective for the company. Finally, Cantor Fitzgerald cut their target price on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,251.88.

About MercadoLibre

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.