Jackson Wealth Management LLC Purchases Shares of 128 MercadoLibre, Inc. (NASDAQ:MELI)

Jackson Wealth Management LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 128 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds also recently bought and sold shares of MELI. Vanguard Group Inc. grew its stake in MercadoLibre by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock worth $286,636,000 after buying an additional 3,577 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of MercadoLibre in the first quarter worth $73,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of MercadoLibre by 19.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock worth $3,753,000 after acquiring an additional 396 shares during the last quarter. Dohj LLC increased its stake in MercadoLibre by 4.0% in the first quarter. Dohj LLC now owns 338 shares of the company’s stock valued at $511,000 after purchasing an additional 13 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in MercadoLibre in the first quarter valued at $68,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MELI shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, October 7th. Citigroup upped their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research report on Wednesday, October 2nd. Susquehanna boosted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Finally, Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Three research 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. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Price Performance

Shares of MELI traded up $5.31 on Thursday, hitting $2,044.01. The company’s stock had a trading volume of 28,843 shares, compared to its average volume of 346,094. The company has a market capitalization of $103.63 billion, a PE ratio of 91.45, a PEG ratio of 1.25 and a beta of 1.61. 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, Inc. has a fifty-two week low of $1,162.73 and a fifty-two week high of $2,161.73. The company has a 50 day moving average price of $2,044.50 and a 200 day moving average price of $1,775.88.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’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 business earned $5.16 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

About MercadoLibre

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.