Alpha Cubed Investments LLC Buys 527 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Alpha Cubed Investments LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 195.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 796 shares of the company's stock after purchasing an additional 527 shares during the period. Alpha Cubed Investments LLC's holdings in MercadoLibre were worth $1,553,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Dupree Financial Group LLC boosted its position in shares of MercadoLibre by 37.3% in the first quarter. Dupree Financial Group LLC now owns 6,104 shares of the company's stock valued at $11,908,000 after acquiring an additional 1,659 shares during the period. Interchange Capital Partners LLC boosted its position in shares of MercadoLibre by 15.6% in the first quarter. Interchange Capital Partners LLC now owns 200 shares of the company's stock valued at $391,000 after acquiring an additional 27 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in shares of MercadoLibre by 78.7% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,474 shares of the company's stock valued at $2,876,000 after acquiring an additional 649 shares during the period. Financial Counselors Inc. bought a new stake in shares of MercadoLibre in the first quarter valued at approximately $300,000. Finally, Capital Advisors Inc. OK boosted its position in shares of MercadoLibre by 9.4% in the first quarter. Capital Advisors Inc. OK now owns 15,341 shares of the company's stock valued at $29,929,000 after acquiring an additional 1,317 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.7%

Shares of NASDAQ:MELI traded down $42.54 during trading on Tuesday, hitting $2,458.54. 101,446 shares of the company's stock traded hands, compared to its average volume of 387,591. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. 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 company has a market cap of $124.64 billion, a price-to-earnings ratio of 60.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The company has a 50-day moving average price of $2,474.90 and a 200-day moving average price of $2,144.63.

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 analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm posted $6.78 EPS. The business's revenue was up 37.0% on a year-over-year basis. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MELI shares. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.