B. Riley Wealth Advisors Inc. Decreases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

B. Riley Wealth Advisors Inc. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 29.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 721 shares of the company's stock after selling 301 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in MercadoLibre were worth $1,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors raised its position in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company's stock valued at $1,278,738,000 after buying an additional 95,029 shares in the last quarter. GQG Partners LLC raised its position in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company's stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company's stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company's stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. Finally, Legal & General Group Plc increased its position in shares of MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company's stock valued at $531,755,000 after purchasing an additional 11,265 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 0.0 %

MercadoLibre stock traded up $0.80 during midday trading on Friday, hitting $1,960.00. 315,790 shares of the company's stock were exchanged, compared to its average volume of 355,040. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market cap of $99.37 billion, a PE ratio of 87.70, a P/E/G ratio of 1.34 and a beta of 1.61. The firm has a 50-day moving average of $1,975.39 and a two-hundred day moving average of $1,726.57. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,161.73.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company's quarterly revenue was up 41.5% on a year-over-year basis. During the same period last year, the firm earned $5.16 earnings per share. As a group, analysts expect that MercadoLibre, Inc. will post 35.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MELI shares. JPMorgan Chase & Co. lowered shares of MercadoLibre from an "overweight" rating to a "neutral" rating and set a $2,400.00 price objective for the company. in a research note on Wednesday. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. StockNews.com lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Saturday, August 10th. Cantor Fitzgerald restated an "overweight" rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, September 23rd. Finally, 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 note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus target price of $2,246.07.

MercadoLibre Company 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.