Raymond James Financial Services Advisors Inc. increases stock position in MercadoLibre, Inc. (NASDAQ:MELI)

Raymond James Financial Services Advisors Inc. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 2.7% in the second quarter, HoldingsChannel reports. The firm owned 7,438 shares of the company’s stock after purchasing an additional 194 shares during the quarter. Holdings of Raymond James Financial Services Advisors Inc. in MercadoLibre were worth $12,224,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after acquiring an additional 146,034 shares. of shares in the last quarter. CWM LLC boosted its stake in MercadoLibre by 17.4% in the fourth quarter. CWM LLC now owns 1,071 shares of the company’s stock valued at $1,683,000 after purchasing an additional 159 shares in the last quarter. RWA Wealth Partners LLC bought a new position in MercadoLibre in the fourth quarter valued at $349,000. Larson Financial Group LLC purchased a new position in shares of MercadoLibre in the 4th quarter valued at $36,000. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of MercadoLibre by 6.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,505 shares of the company’s stock worth $2,365,000 after buying an additional 95 shares during the last quarter. 87.62% of shares are held by institutional investors.

MercadoLibre Price Performance

MELI opened at $1,988.83 on Friday. The firm has a market cap of $100.83 billion, a PE ratio of 88.99, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27, and a quick ratio of 1.25. The company’s 50-day moving average is $1,724.45, and its two-hundred-day moving average is $1,639.20. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,029.99.

MercadoLibre (NASDAQ:MELI – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. MercadoLibre’s revenue grew 41.5% year over year. In the same quarter last year, the business posted EPS of $5.16. Research analysts anticipate that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

Analysts set new price targets

MELI has been the subject of several analyst reports. Citigroup boosted their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, Barclays upped their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock 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 given a strong buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,063.75, according to MarketBeat .

Check out our latest report on MercadoLibre

MercadoLibre profile

(Free report)

MercadoLibre, Inc operates online commerce platforms in the United States. Operates Mercado Libre Marketplace, an automated online commerce platform that allows businesses, merchants and individuals to list goods and make sales and purchases digitally; and the Mercado Pago FinTech platform, a financial technology solutions platform that facilitates transactions on and off its markets by providing a mechanism that allows its users to send and receive payments online, as well as allowing users to transfer money through the site- their websites or through apps.

Further reading

Want to see what other hedge funds MELI owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).

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