Alps Advisors Inc. Has $2.04 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Alps Advisors Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,046 shares of the company's stock after selling 277 shares during the quarter. Alps Advisors Inc.'s holdings in MercadoLibre were worth $2,041,000 as of its most recent SEC filing.

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

MercadoLibre Trading Down 0.6%

Shares of MELI stock opened at $2,387.45 on Friday. The business's 50 day moving average is $2,486.03 and its two-hundred day moving average is $2,161.17. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The company has a market cap of $121.04 billion, a PE ratio of 58.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the firm posted $6.78 EPS. The business's quarterly revenue was up 37.0% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MELI shares. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research report on Monday, June 2nd. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Finally, Barclays lifted their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

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.

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