Jackson Wealth Management LLC Purchases New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Jackson Wealth Management LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, HoldingsChannel.com reports. The firm purchased 128 shares of the company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Vanguard Group Inc. boosted its holdings in MercadoLibre by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock valued at $286,636,000 after purchasing an additional 3,577 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of MercadoLibre during the 1st quarter worth approximately $73,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of MercadoLibre by 19.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock worth $3,753,000 after acquiring an additional 396 shares during the period. Dohj LLC lifted its holdings in shares of MercadoLibre by 4.0% during the 1st quarter. Dohj LLC now owns 338 shares of the company’s stock worth $511,000 after acquiring an additional 13 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 1st quarter worth approximately $68,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. Morgan Stanley increased their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Finally, Susquehanna increased their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Stock Performance

Shares of MELI traded up $5.31 during trading hours on Thursday, hitting $2,044.01. The company’s stock had a trading volume of 28,843 shares, compared to its average volume of 346,094. The business has a 50 day simple moving average of $2,044.50 and a two-hundred day simple moving average of $1,775.88. The company has a market cap of $103.63 billion, a price-to-earnings ratio of 91.45, a PEG ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,162.73 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.16 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

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.