CenterBook Partners LP increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 154.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,988 shares of the company's stock after buying an additional 1,816 shares during the quarter. CenterBook Partners LP's holdings in MercadoLibre were worth $5,829,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre during the fourth quarter valued at approximately $561,000. Commonwealth Equity Services LLC boosted its stake in MercadoLibre by 0.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,403 shares of the company's stock valued at $14,289,000 after purchasing an additional 45 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in MercadoLibre by 69.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,445 shares of the company's stock worth $5,858,000 after acquiring an additional 1,411 shares during the period. Harbour Investments Inc. raised its position in MercadoLibre by 2.1% in the fourth quarter. Harbour Investments Inc. now owns 839 shares of the company's stock worth $1,427,000 after acquiring an additional 17 shares in the last quarter. Finally, GWN Securities Inc. acquired a new stake in MercadoLibre in the 4th quarter valued at about $409,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.
MercadoLibre Stock Up 0.6%
Shares of MercadoLibre stock traded up $15.15 during midday trading on Wednesday, reaching $2,405.15. 210,507 shares of the company's stock traded hands, compared to its average volume of 387,905. 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, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The company's 50 day simple moving average is $2,494.78 and its 200 day simple moving average is $2,171.90. The company has a market cap of $121.94 billion, a price-to-earnings ratio of 59.15, a price-to-earnings-growth ratio of 1.42 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 for the quarter, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business's revenue was up 37.0% compared to the same quarter last year. During the same period last year, the company earned $6.78 earnings per share. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.
Analyst Ratings Changes
MELI has been the topic of a number of research reports. Susquehanna reiterated a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average target price of $2,645.94.
Get Our Latest Research Report on MELI
MercadoLibre Company Profile
(
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.
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