Eagle Global Advisors LLC Buys 849 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Eagle Global Advisors LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 60.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,264 shares of the company's stock after purchasing an additional 849 shares during the period. Eagle Global Advisors LLC's holdings in MercadoLibre were worth $3,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its stake in MercadoLibre by 614.7% in the fourth quarter. CoreCap Advisors LLC now owns 922 shares of the company's stock worth $1,568,000 after purchasing an additional 793 shares during the last quarter. Cornerstone Select Advisors LLC acquired a new position in MercadoLibre during the fourth quarter worth $230,000. Cetera Investment Advisers boosted its holdings in shares of MercadoLibre by 4.0% during the 4th quarter. Cetera Investment Advisers now owns 5,476 shares of the company's stock worth $9,311,000 after purchasing an additional 213 shares during the last quarter. Bulltick Wealth Management LLC grew its position in MercadoLibre by 21.1% in the fourth quarter. Bulltick Wealth Management LLC now owns 3,205 shares of the company's stock worth $5,450,000 after acquiring an additional 558 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth $7,155,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MELI. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Cantor Fitzgerald dropped their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and raised their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Barclays lifted their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,504.67.

MercadoLibre Price Performance

NASDAQ:MELI traded up $29.50 during trading hours on Monday, reaching $2,479.50. The company had a trading volume of 264,549 shares, compared to its average volume of 380,812. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $125.70 billion, a PE ratio of 65.77, a PEG ratio of 1.12 and a beta of 1.61. The stock has a 50-day moving average of $2,081.98 and a two-hundred day moving average of $1,981.52. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,525.00.

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