Bensler LLC Buys 211 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Bensler LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,448 shares of the company’s stock after acquiring an additional 211 shares during the quarter. Bensler LLC’s holdings in MercadoLibre were worth $7,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. Cambridge Investment Research Advisors Inc. raised its position in MercadoLibre by 2.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,698 shares of the company’s stock valued at $6,077,000 after acquiring an additional 71 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in shares of MercadoLibre by 32.6% in the second quarter. Atomi Financial Group Inc. now owns 297 shares of the company’s stock worth $488,000 after acquiring an additional 73 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in MercadoLibre during the second quarter worth $255,000. SlateStone Wealth LLC lifted its stake in shares of MercadoLibre by 3.0% in the 2nd quarter. SlateStone Wealth LLC now owns 991 shares of the company’s stock valued at $1,629,000 after purchasing an additional 29 shares during the last quarter. Finally, IMA Advisory Services Inc. lifted its stake in shares of MercadoLibre by 35.0% in the 2nd quarter. IMA Advisory Services Inc. now owns 1,250 shares of the company’s stock valued at $2,054,000 after purchasing an additional 324 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MELI shares. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, Wedbush reissued an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,063.75.

MercadoLibre Stock Performance

MELI stock traded up $31.51 during trading on Tuesday, reaching $2,036.21. 272,065 shares of the stock were exchanged, compared to its average volume of 364,459. The company has a market capitalization of $103.23 billion, a P/E ratio of 91.11, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,048.99. The stock has a 50 day simple moving average of $1,741.72 and a 200-day simple moving average of $1,641.67.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the company posted $5.16 earnings per share. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 33.4 earnings per share for the current 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.