Capital Advisors Inc. OK Has $28.11 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Capital Advisors Inc. OK grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5,335.7% during the third quarter, HoldingsChannel.com reports. The firm owned 13,698 shares of the company’s stock after acquiring an additional 13,446 shares during the quarter. Capital Advisors Inc. OK’s holdings in MercadoLibre were worth $28,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Americana Partners LLC boosted its position in shares of MercadoLibre by 11.7% during the 3rd quarter. Americana Partners LLC now owns 972 shares of the company’s stock worth $1,995,000 after acquiring an additional 102 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of MercadoLibre by 3.3% during the 3rd quarter. New York State Common Retirement Fund now owns 28,374 shares of the company’s stock valued at $58,222,000 after acquiring an additional 910 shares in the last quarter. Focus Financial Network Inc. grew its position in MercadoLibre by 6.3% during the 3rd quarter. Focus Financial Network Inc. now owns 272 shares of the company’s stock worth $558,000 after acquiring an additional 16 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in MercadoLibre by 8.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 196 shares of the company’s stock worth $402,000 after purchasing an additional 16 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in MercadoLibre in the third quarter valued at about $185,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research reports. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. 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 for the company. Finally, Barclays lifted their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. 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’s stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Trading Up 0.9 %

Shares of MercadoLibre stock opened at $2,054.90 on Friday. The company has a 50 day simple moving average of $2,050.38 and a two-hundred day simple moving average of $1,801.53. The firm has a market cap of $104.18 billion, a PE ratio of 74.26, a PEG ratio of 1.23 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,310.31 and a 1 year high of $2,161.73. 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 announced its earnings results 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. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business earned $5.16 earnings per share. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal 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.