Achmea Investment Management B.V. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 32.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,801 shares of the company's stock after purchasing an additional 1,178 shares during the quarter. Achmea Investment Management B.V.'s holdings in MercadoLibre were worth $9,366,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. raised its stake in MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after buying an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its stake in MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after buying an additional 5 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after buying an additional 5 shares during the last quarter. Formidable Asset Management LLC raised its stake in MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after buying an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its stake in MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
MELI has been the subject of several research analyst reports. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Benchmark downgraded 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. Finally, Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $2,645.94.
Check Out Our Latest Stock Report on MELI
MercadoLibre Stock Performance
Shares of MELI stock traded down $0.15 during trading on Friday, hitting $2,560.05. The company's stock had a trading volume of 295,819 shares, compared to its average volume of 387,339. The company has a market cap of $129.79 billion, a PE ratio of 62.96, a P/E/G ratio of 1.52 and a beta of 1.51. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $2,432.13 and a 200-day moving average of $2,109.52. MercadoLibre, Inc. has a 52 week low of $1,563.21 and a 52 week high of $2,635.88.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.78 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
MercadoLibre Profile
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Free Report)
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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