Heirloom Wealth Management Buys 57 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Heirloom Wealth Management increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,407 shares of the company’s stock after buying an additional 57 shares during the period. MercadoLibre accounts for approximately 2.2% of Heirloom Wealth Management’s investment portfolio, making the stock its 17th biggest holding. Heirloom Wealth Management’s holdings in MercadoLibre were worth $6,991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. GQG Partners LLC raised its holdings in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in MercadoLibre in the 2nd quarter valued at about $2,913,000. Janus Henderson Group PLC lifted its position in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Finally, Capital World Investors boosted its stake in MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,065.87 on Friday. 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 stock has a fifty day simple moving average of $2,030.77 and a two-hundred day simple moving average of $1,758.33. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The firm has a market cap of $104.73 billion, a price-to-earnings ratio of 92.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the firm earned $5.16 EPS. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James began coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Bank of America lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Citigroup boosted their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday, October 2nd. Three investment 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 company’s stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,283.00.

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.