MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in MercadoLibre, Inc. by 12.0%, acquiring an additional 658 shares and totaling 6,134 shares worth $11.97 million.
• Institutional investors now own 87.62% of MercadoLibre's stock, indicating strong institutional confidence in the company.
• MercadoLibre reported earnings of $9.74 EPS, exceeding analyst expectations, with revenue rising 37.0% year-over-year to $5.94 billion.

Cetera Investment Advisers grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,134 shares of the company's stock after purchasing an additional 658 shares during the quarter. Cetera Investment Advisers' holdings in MercadoLibre were worth $11,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MELI. Key Financial Inc acquired a new stake in shares of MercadoLibre during the 1st quarter worth about $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Covestor Ltd purchased a new position in shares of MercadoLibre during the 4th quarter worth approximately $27,000. Finally, Close Asset Management Ltd raised its position in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI stock traded up $2.03 during mid-day trading on Friday, hitting $2,375.92. The stock had a trading volume of 375,200 shares, compared to its average volume of 256,589. The firm has a market cap of $120.46 billion, a PE ratio of 58.43, a PEG ratio of 1.41 and a beta of 1.46. The company's 50-day simple moving average is $2,455.84 and its 200-day simple moving average is $2,226.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.78 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MELI. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $2,707.50.

MercadoLibre 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.