CoreCap Advisors LLC Has $1.57 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

CoreCap Advisors LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 614.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 922 shares of the company's stock after buying an additional 793 shares during the period. CoreCap Advisors LLC's holdings in MercadoLibre were worth $1,568,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Human Investing LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. boosted its stake in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its stake in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares during the period. Covestor Ltd acquired a new position in MercadoLibre during the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $32,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MELI. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,504.67.

MercadoLibre Price Performance

MELI stock traded up $42.53 on Friday, hitting $2,452.53. 382,692 shares of the company's stock traded hands, compared to its average volume of 381,235. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,501.00. The stock has a market cap of $124.34 billion, a price-to-earnings ratio of 65.05, a P/E/G ratio of 1.12 and a beta of 1.61. The stock has a fifty day moving average of $2,081.98 and a 200-day moving average of $1,981.52. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the business earned $6.78 earnings per share. The business's quarterly revenue was up 37.0% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.