Diversify Wealth Management LLC Boosts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Diversify Wealth Management LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 398 shares of the company’s stock after purchasing an additional 16 shares during the quarter. Diversify Wealth Management LLC’s holdings in MercadoLibre were worth $811,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares in the last quarter. GQG Partners LLC raised its holdings in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 acquiring an additional 232,787 shares in the last quarter. Janus Henderson Group PLC raised its holdings in 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 acquiring an additional 132,028 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,020.72 on Thursday. 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 market cap of $102.44 billion, a PE ratio of 90.41, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company’s 50 day simple moving average is $2,048.32 and its 200-day simple moving average is $1,795.41. MercadoLibre, Inc. has a 12-month low of $1,205.80 and a 12-month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the firm posted $5.16 EPS. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MELI shares. Morgan Stanley raised their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, October 7th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective on the stock. Finally, Barclays raised their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre 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.