Wedbush Securities Inc. Has $3.39 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Wedbush Securities Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,062 shares of the company’s stock after buying an additional 83 shares during the quarter. Wedbush Securities Inc.’s holdings in MercadoLibre were worth $3,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Capital International Investors grew its stake in shares of MercadoLibre by 0.4% in the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after acquiring an additional 4,317 shares in the last quarter. Capital World Investors grew its position in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. GQG Partners LLC increased its holdings in shares of 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 purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of a number of recent research reports. BTIG Research raised 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. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and raised their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Cantor Fitzgerald initiated coverage on shares of MercadoLibre in a report on Thursday. They issued an “overweight” rating and a $2,530.00 target price on the stock. Finally, Citigroup upped 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. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,141.25.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,986.05 on Monday. The company has a market capitalization of $100.69 billion, a PE ratio of 88.86, a P/E/G ratio of 1.29 and a beta of 1.60. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,064.76. The firm has a fifty day simple moving average of $1,814.44 and a 200 day simple moving average of $1,659.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business earned $5.16 EPS. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 35.22 EPS 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.