Brookwood Investment Group LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 145 shares of the company's stock, valued at approximately $283,000.
A number of other large investors have also recently made changes to their positions in the stock. One Wealth Advisors LLC boosted its position in shares of MercadoLibre by 13.8% in the first quarter. One Wealth Advisors LLC now owns 239 shares of the company's stock valued at $466,000 after acquiring an additional 29 shares during the period. NorthStar Asset Management LLC NJ purchased a new stake in MercadoLibre in the 1st quarter worth approximately $252,000. Black Swift Group LLC boosted its holdings in MercadoLibre by 252.9% in the 1st quarter. Black Swift Group LLC now owns 1,500 shares of the company's stock valued at $2,926,000 after purchasing an additional 1,075 shares during the period. AE Wealth Management LLC boosted its holdings in MercadoLibre by 14.4% in the 1st quarter. AE Wealth Management LLC now owns 207 shares of the company's stock valued at $404,000 after purchasing an additional 26 shares during the period. Finally, IMA Advisory Services Inc. grew its position in shares of MercadoLibre by 1.3% during the 1st quarter. IMA Advisory Services Inc. now owns 1,440 shares of the company's stock valued at $2,809,000 after purchasing an additional 19 shares in the last quarter. 87.62% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on MELI. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,639.69.
Check Out Our Latest Report on MELI
MercadoLibre Price Performance
MELI stock opened at $2,362.56 on Friday. The firm has a market cap of $119.78 billion, a P/E ratio of 58.11, a P/E/G ratio of 1.42 and a beta of 1.49. The firm's fifty day moving average is $2,475.90 and its 200 day moving average is $2,202.14. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.
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, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during 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%. The company's revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.78 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
About MercadoLibre
(
Free Report)
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.
Further Reading
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