CX Institutional Purchases Shares of 115 MercadoLibre, Inc. (NASDAQ:MELI)

CX Institutional purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 115 shares of the company's stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in shares of MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after purchasing an additional 173,449 shares during the last quarter. MV Capital Management Inc. purchased a new stake in MercadoLibre during the 1st quarter worth approximately $139,000. Atwood & Palmer Inc. boosted its stake in MercadoLibre by 82.8% during the 1st quarter. Atwood & Palmer Inc. now owns 17,008 shares of the company's stock worth $33,180,000 after purchasing an additional 7,706 shares during the last quarter. Petredis Investment Advisors LLC grew its stake in MercadoLibre by 5.6% during the 1st quarter. Petredis Investment Advisors LLC now owns 2,433 shares of the company's stock valued at $4,746,000 after acquiring an additional 130 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. increased its holdings in shares of MercadoLibre by 43.8% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 1,107 shares of the company's stock valued at $2,160,000 after purchasing an additional 337 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Barclays raised their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Bank of America increased their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,632.50.

MercadoLibre Stock Up 2.8%

Shares of NASDAQ:MELI traded up $65.70 during trading on Monday, hitting $2,437.68. 73,615 shares of the company were exchanged, compared to its average volume of 385,182. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average price of $2,340.95 and a two-hundred day moving average price of $2,074.79. The stock has a market cap of $123.58 billion, a price-to-earnings ratio of 64.61, a P/E/G ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 51.89% and a net margin of 9.20%. The firm's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period last year, the firm posted $6.78 EPS. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 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.