Ascent Wealth Partners LLC Has $2.38 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Ascent Wealth Partners LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 21.0% in the third quarter, Holdings Channel.com reports. The fund owned 1,159 shares of the company’s stock after acquiring an additional 201 shares during the quarter. Ascent Wealth Partners LLC’s holdings in MercadoLibre were worth $2,378,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in MercadoLibre in the second quarter valued at approximately $36,000. Quarry LP acquired a new stake in MercadoLibre in the second quarter valued at approximately $43,000. Finally, NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MELI shares. Morgan Stanley boosted their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. JPMorgan Chase & Co. cut 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 note on Wednesday, October 2nd. Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Barclays boosted their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded down $333.06 on Thursday, hitting $1,784.24. The stock had a trading volume of 695,801 shares, compared to its average volume of 345,475. The firm’s 50 day moving average price is $2,055.08 and its 200-day moving average price is $1,819.36. The company has a market capitalization of $90.46 billion, a price-to-earnings ratio of 65.79, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.27 by ($3.44). The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.25 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. On average, equities research analysts predict that MercadoLibre, Inc. will post 37.7 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.