Signify Wealth Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Signify Wealth bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 109 shares of the company’s stock, valued at approximately $224,000. MercadoLibre comprises approximately 0.3% of Signify Wealth’s portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Norden Group LLC acquired a new position in MercadoLibre in the first quarter worth $293,000. Private Advisor Group LLC grew its holdings in MercadoLibre by 4.5% during the 1st quarter. Private Advisor Group LLC now owns 554 shares of the company’s stock worth $838,000 after acquiring an additional 24 shares during the last quarter. Janney Montgomery Scott LLC increased its position in MercadoLibre by 8.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,326 shares of the company’s stock valued at $8,053,000 after acquiring an additional 414 shares in the last quarter. Whittier Trust Co. increased its position in MercadoLibre by 26.1% in the 1st quarter. Whittier Trust Co. now owns 1,195 shares of the company’s stock valued at $1,807,000 after acquiring an additional 247 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of MercadoLibre by 14.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 669 shares of the company’s stock worth $1,011,000 after acquiring an additional 83 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.3 %

MELI stock traded up $6.63 during trading on Monday, reaching $2,061.53. The stock had a trading volume of 16,645 shares, compared to its average volume of 344,093. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $104.51 billion, a price-to-earnings ratio of 72.69, a P/E/G ratio of 1.24 and a beta of 1.61. The company’s 50 day moving average is $2,050.38 and its two-hundred day moving average is $1,807.21. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $5.16 EPS. Equities research analysts forecast that MercadoLibre, Inc. will post 37.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MELI. Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. 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. Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,301.67.

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.