Abbot Financial Management Inc. Buys 48 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Abbot Financial Management Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 514 shares of the company’s stock after acquiring an additional 48 shares during the period. Abbot Financial Management Inc.’s holdings in MercadoLibre were worth $845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the period. First PREMIER Bank bought a new stake in shares of MercadoLibre during the 1st quarter worth approximately $27,000. Financial Connections Group Inc. acquired a new position in MercadoLibre during the second quarter valued at approximately $36,000. DSM Capital Partners LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $36,000. Finally, Scarborough Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at $36,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 0.8 %

Shares of NASDAQ MELI opened at $2,105.51 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The firm has a market cap of $106.74 billion, a PE ratio of 94.21, a P/E/G ratio of 1.33 and a beta of 1.61. The company’s fifty day simple moving average is $1,869.28 and its 200 day simple moving average is $1,677.47. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,143.96.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MELI shares. Cantor Fitzgerald began coverage on MercadoLibre in a research report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price on the stock. Citigroup upped their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,182.92.

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.