Weik Capital Management Has $296,000 Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Weik Capital Management grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 180 shares of the company’s stock after buying an additional 30 shares during the period. Weik Capital Management’s holdings in MercadoLibre were worth $296,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. raised its holdings in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares in the last quarter. First PREMIER Bank acquired a new position in shares of MercadoLibre in the first quarter valued at $27,000. Financial Connections Group Inc. bought a new position in MercadoLibre in the second quarter worth $36,000. DSM Capital Partners LLC acquired a new stake in MercadoLibre during the fourth quarter worth $36,000. Finally, Scarborough Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at $36,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.8 %

MELI opened at $2,122.37 on Friday. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,143.96. The stock has a market capitalization of $107.60 billion, a PE ratio of 94.96, a PEG ratio of 1.33 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $1,860.84 and a two-hundred day moving average price of $1,673.21.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.16 EPS. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MELI. The Goldman Sachs Group lifted their target price 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. Citigroup lifted their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, BTIG Research increased their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,182.92.

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.