Asset Dedication LLC Has $151,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Asset Dedication LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1,050.0% in the second quarter, HoldingsChannel.com reports. The fund owned 92 shares of the company’s stock after buying an additional 84 shares during the period. Asset Dedication LLC’s holdings in MercadoLibre were worth $151,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank raised its stake in MercadoLibre by 22.2% during the fourth quarter. Amalgamated Bank now owns 55 shares of the company’s stock worth $86,000 after acquiring an additional 10 shares in the last quarter. Private Advisor Group LLC increased its position in MercadoLibre by 33.2% during the 4th quarter. Private Advisor Group LLC now owns 530 shares of the company’s stock worth $833,000 after purchasing an additional 132 shares in the last quarter. Lincoln National Corp lifted its stake in MercadoLibre by 9.1% in the 4th quarter. Lincoln National Corp now owns 265 shares of the company’s stock valued at $416,000 after purchasing an additional 22 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in shares of MercadoLibre by 40.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after buying an additional 149 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of MercadoLibre during the fourth quarter worth $242,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. JPMorgan Chase & Co. raised 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. Citigroup upped their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. BTIG Research upped their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,141.25.

MercadoLibre Stock Up 2.2 %

Shares of NASDAQ:MELI opened at $2,029.91 on Tuesday. The business’s 50-day moving average is $1,823.09 and its 200-day moving average is $1,660.50. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,064.76. The company has a market capitalization of $102.92 billion, a price-to-earnings ratio of 90.82, a P/E/G ratio of 1.29 and a beta of 1.60. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the business earned $5.16 EPS. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current 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.