Rare Wolf Capital LLC Acquires 521 Shares of MercadoLibre, Inc. $MELI

Rare Wolf Capital LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 70.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,261 shares of the company’s stock after acquiring an additional 521 shares during the period. MercadoLibre makes up 1.3% of Rare Wolf Capital LLC’s investment portfolio, making the stock its 22nd largest position. Rare Wolf Capital LLC’s holdings in MercadoLibre were worth $2,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MELI. Redwood Family Wealth LLC grew its stake in MercadoLibre by 9.1% in the 3rd quarter. Redwood Family Wealth LLC now owns 144 shares of the company’s stock valued at $249,000 after buying an additional 12 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in MercadoLibre by 30.7% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 9,175 shares of the company’s stock valued at $15,859,000 after acquiring an additional 2,157 shares during the period. Net Worth Advisory Group lifted its position in shares of MercadoLibre by 24.8% during the third quarter. Net Worth Advisory Group now owns 206 shares of the company’s stock worth $347,000 after acquiring an additional 41 shares in the last quarter. Sterling Investment Counsel LLC lifted its holdings in MercadoLibre by 4.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 485 shares of the company’s stock worth $838,000 after purchasing an additional 22 shares in the last quarter. Finally, Teamwork Financial Advisors LLC lifted its holdings in shares of MercadoLibre by 12.6% in the third quarter. Teamwork Financial Advisors LLC now owns 824 shares of the company’s stock worth $1,424,000 after buying an additional 92 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. New Street Research started coverage on MercadoLibre in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 price objective on the stock. BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, September 3rd. Susquehanna upped their target price on MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research note on Tuesday, October 6th. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. raised their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,251.88.

MercadoLibre Price Performance

MELI stock opened at $1,879.50 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,428.00. The stock has a market cap of $95.29 billion, a PE ratio of 51.12, a P/E/G ratio of 1.29 and a beta of 1.31. The firm has a 50 day simple moving average of $1,862.24 and a two-hundred day simple moving average of $1,786.81.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.31 EPS. On average, analysts predict that MercadoLibre, Inc. will post 38.09 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.