67 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Ridgewood Investments LLC

Ridgewood Investments LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 67 shares of the company’s stock, valued at approximately $110,000.

Other large investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. First PREMIER Bank acquired a new position in MercadoLibre in the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $36,000. DSM Capital Partners LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $36,000. Finally, Scarborough Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ MELI traded up $20.62 during trading hours on Thursday, reaching $2,015.79. 199,231 shares of the company’s stock were exchanged, compared to its average volume of 362,794. The firm has a fifty day moving average of $1,759.41 and a 200-day moving average of $1,646.20. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,048.99. The stock has a market cap of $102.19 billion, a PE ratio of 90.19, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last announced its 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 return on equity of 45.61% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group raised their target price 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. Citigroup raised their price objective 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. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,150.00 to $2,400.00 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,067.92.

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.