WNY Asset Management LLC Makes New Investment in MercadoLibre, Inc. $MELI

WNY Asset Management LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, Holdings Channel reports. The fund acquired 888 shares of the company’s stock, valued at approximately $1,507,000.

Several other large investors have also modified their holdings of the stock. Equitable Holdings Inc. acquired a new position in MercadoLibre in the second quarter valued at $1,883,000. Centaurus Financial Inc. purchased a new position in shares of MercadoLibre during the second quarter worth about $292,000. Jefferies Financial Group Inc. acquired a new stake in shares of MercadoLibre during the second quarter worth about $1,334,000. Public Employees Retirement System of Ohio purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at about $75,245,000. Finally, MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at about $3,444,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 1.0%

NASDAQ:MELI opened at $1,930.75 on Friday. The firm has a market cap of $97.88 billion, a P/E ratio of 52.51, a PEG ratio of 1.34 and a beta of 1.34. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock’s 50 day simple moving average is $1,817.82 and its 200-day simple moving average is $1,771.00. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the company earned $10.31 earnings per share. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. Equities analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, Scotiabank cut their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.