Annex Advisory Services LLC Acquires 2,301 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Annex Advisory Services LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,388 shares of the company's stock after purchasing an additional 2,301 shares during the quarter. Annex Advisory Services LLC's holdings in MercadoLibre were worth $30,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Capital International Investors boosted its position in shares of MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after buying an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in MercadoLibre in the fourth quarter valued at $565,306,000. Capital World Investors boosted its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of MercadoLibre during the 4th quarter worth about $383,051,000. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MELI. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Finally, Barclays boosted their price target on shares of 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 issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,588.00.

MercadoLibre Stock Up 0.3%

NASDAQ MELI traded up $7.78 during trading on Thursday, reaching $2,581.74. The company's stock had a trading volume of 238,517 shares, compared to its average volume of 380,910. 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 stock has a market capitalization of $130.89 billion, a PE ratio of 68.48, a PEG ratio of 1.12 and a beta of 1.61. The business has a 50-day moving average price of $2,264.36 and a 200-day moving average price of $2,053.04. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.78 earnings per share. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.