Lynx Investment Advisory Invests $58,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Lynx Investment Advisory acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35 shares of the company’s stock, valued at approximately $58,000.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. boosted its position in MercadoLibre by 800.0% during the 2nd quarter. Mather Group LLC. now owns 63 shares of the company’s stock valued at $95,000 after acquiring an additional 56 shares in the last quarter. Insight Wealth Strategies LLC purchased a new stake in MercadoLibre during the 2nd quarter worth approximately $3,783,000. City State Bank increased its stake in MercadoLibre by 5,066.7% during the 2nd quarter. City State Bank now owns 310 shares of the company’s stock valued at $509,000 after purchasing an additional 304 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of MercadoLibre in the second quarter worth $59,000. Finally, DNB Asset Management AS lifted its stake in shares of MercadoLibre by 133.5% during the second quarter. DNB Asset Management AS now owns 39,749 shares of the company’s stock worth $65,324,000 after buying an additional 22,724 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.4 %

Shares of MercadoLibre stock traded up $42.98 during trading on Wednesday, hitting $1,853.37. 212,882 shares of the stock were exchanged, compared to its average volume of 370,661. The stock has a market cap of $93.96 billion, a price-to-earnings ratio of 81.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The firm’s 50-day moving average price is $1,650.71 and its 200 day moving average price is $1,621.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $1,878.38.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the firm posted $5.16 EPS. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, analysts forecast that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a report on Tuesday, April 23rd. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, UBS Group decreased their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $1,973.33.

About MercadoLibre

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.