Ballentine Partners LLC Takes $254,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Ballentine Partners LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 130 shares of the company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in MercadoLibre in the fourth quarter worth about $26,000. Covestor Ltd bought a new position in MercadoLibre in the 4th quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $32,000. VSM Wealth Advisory LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after buying an additional 15 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on MELI shares. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Susquehanna reissued a "positive" rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

MercadoLibre Stock Performance

MercadoLibre stock traded up $62.43 during trading hours on Friday, reaching $2,413.57. 319,558 shares of the company were exchanged, compared to its average volume of 387,635. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month 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 stock has a 50-day moving average of $2,493.54 and a 200 day moving average of $2,176.24. The firm has a market cap of $122.37 billion, a price-to-earnings ratio of 59.36, a PEG ratio of 1.43 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating 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 9.21% and a return on equity of 48.46%. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. During the same period last year, the business posted $6.78 EPS. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.