2,299 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by Goodman Advisory Group LLC

Goodman Advisory Group LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,299 shares of the company's stock, valued at approximately $4,485,000. MercadoLibre accounts for about 2.1% of Goodman Advisory Group LLC's investment portfolio, making the stock its 13th largest position.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $26,000. Covestor Ltd purchased a new stake in MercadoLibre during the fourth quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $32,000. VSM Wealth Advisory LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 0.0%

Shares of NASDAQ MELI opened at $2,560.05 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 1 year low of $1,563.21 and a 1 year high of $2,635.88. The stock's 50-day simple moving average is $2,432.13 and its 200-day simple moving average is $2,110.99. The firm has a market cap of $129.79 billion, a price-to-earnings ratio of 62.96, a PEG ratio of 1.52 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm's revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.78 EPS. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays boosted their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Finally, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.

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