Atwood & Palmer Inc. Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Atwood & Palmer Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 82.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,008 shares of the company's stock after acquiring an additional 7,706 shares during the period. MercadoLibre accounts for about 2.3% of Atwood & Palmer Inc.'s holdings, making the stock its 13th biggest position. Atwood & Palmer Inc.'s holdings in MercadoLibre were worth $33,180,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. lifted its position in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after buying an additional 5 shares in the last quarter. Texas Yale Capital Corp. lifted its stake in shares of MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after buying an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its position in shares of 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 acquiring an additional 5 shares in the last quarter. Formidable Asset Management LLC boosted its stake in MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC grew its stake in MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 2.1%

Shares of MercadoLibre stock traded down $52.16 during trading on Tuesday, hitting $2,396.44. 501,406 shares of the stock traded hands, compared to its average volume of 383,204. MercadoLibre, Inc. has a 52-week low of $1,550.00 and a 52-week high of $2,635.88. The stock's fifty day simple moving average is $2,298.62 and its 200 day simple moving average is $2,066.22. The firm has a market cap of $121.49 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the company posted $6.78 earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group raised their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Cantor Fitzgerald lowered 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 research note on Wednesday, April 16th. Bank of America lifted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,613.75.

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.