Diversify Advisory Services LLC Has $1.12 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Diversify Advisory Services LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 33.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 650 shares of the company’s stock after selling 332 shares during the quarter. Diversify Advisory Services LLC’s holdings in MercadoLibre were worth $1,119,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. First PREMIER Bank bought a new stake in MercadoLibre in the first quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at about $28,000. Archer Investment Corp bought a new position in MercadoLibre during the fourth quarter worth about $31,000. Larson Financial Group LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $36,000. Finally, DSM Capital Partners LLC bought a new position in MercadoLibre in the 4th quarter worth approximately $36,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on MELI. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their price target for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Finally, Barclays boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $1,998.33.

MercadoLibre Stock Performance

MELI traded up $14.22 during midday trading on Friday, hitting $1,883.62. 232,949 shares of the company were exchanged, compared to its average volume of 371,967. The company’s 50 day simple moving average is $1,660.26 and its 200 day simple moving average is $1,624.94. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $95.49 billion, a price-to-earnings ratio of 84.28, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $1,909.80.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business posted $5.16 EPS. The firm’s revenue was up 41.5% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current 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.