Bosman Wealth Management LLC Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Bosman Wealth Management LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 69.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531 shares of the company's stock after selling 1,186 shares during the quarter. MercadoLibre comprises about 1.1% of Bosman Wealth Management LLC's portfolio, making the stock its 29th biggest position. Bosman Wealth Management LLC's holdings in MercadoLibre were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at about $26,000. Covestor Ltd acquired a new position in MercadoLibre during the 4th quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $32,000. VSM Wealth Advisory LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in MercadoLibre by 375.0% in the first 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 during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. 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 report on Thursday, May 22nd. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Barclays raised 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Stock Performance

MercadoLibre stock traded down $14.65 during mid-day trading on Friday, reaching $2,387.45. 341,673 shares of the company's stock were exchanged, compared to its average volume of 389,087. The firm has a market capitalization of $121.04 billion, a PE ratio of 58.72, a P/E/G ratio of 1.43 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The business's fifty day simple moving average is $2,483.90 and its 200 day simple moving average is $2,153.84. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.78 EPS. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.