MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 179 shares of the company’s stock after purchasing an additional 7 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in MercadoLibre were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Focus Financial Network Inc. lifted its holdings in MercadoLibre by 44.6% in the 2nd quarter. Focus Financial Network Inc. now owns 256 shares of the company’s stock valued at $428,000 after purchasing an additional 79 shares in the last quarter. Liberty One Investment Management LLC acquired a new position in MercadoLibre during the second quarter worth about $735,000. Sanibel Captiva Trust Company Inc. acquired a new position in MercadoLibre during the second quarter worth about $385,000. BigSur Wealth Management LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at about $657,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in MercadoLibre by 33.2% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 305 shares of the company’s stock worth $501,000 after purchasing an additional 76 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Barclays lifted their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group increased their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, eleven 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 an average rating of “Moderate Buy” and a consensus price target of $2,045.00.

MercadoLibre Stock Down 1.1 %

Shares of MELI stock traded down $22.34 during trading hours on Tuesday, reaching $2,005.66. 225,202 shares of the stock were exchanged, compared to its average volume of 369,303. The business’s fifty day moving average is $1,708.12 and its two-hundred day moving average is $1,634.14. The firm has a market capitalization of $101.68 billion, a P/E ratio of 89.74, a P/E/G ratio of 1.13 and a beta of 1.60. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,029.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.16 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 33.4 EPS for the current fiscal year.

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.