Avant Financial Advisors LLC Makes New $316,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Avant Financial Advisors LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 186 shares of the company's stock, valued at approximately $316,000.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. Capital International Investors grew its holdings in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $565,306,000. Capital World Investors increased its holdings in shares of MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Finally, Norges Bank bought a new position in MercadoLibre during the fourth quarter worth $383,051,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ:MELI traded up $16.73 during mid-day trading on Friday, reaching $2,562.22. 405,889 shares of the stock were exchanged, compared to its average volume of 383,005. 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 business has a fifty day moving average price of $2,233.35 and a 200 day moving average price of $2,038.68. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,635.88. The firm has a market capitalization of $129.90 billion, a PE ratio of 67.96, a PEG ratio of 1.12 and a beta of 1.61.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Friday, May 16th. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their price objective 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,572.86.

About MercadoLibre

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.