Chokshi & Queen Wealth Advisors Inc Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Chokshi & Queen Wealth Advisors Inc bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 225 shares of the company's stock, valued at approximately $383,000.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors boosted its holdings in MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the period. Capital International Investors boosted its holdings in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the period. Capital World Investors boosted its holdings in MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock valued at $927,239,000 after buying an additional 2,048 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MELI stock traded down $5.22 on Thursday, hitting $2,545.49. 200,047 shares of the stock traded hands, compared to its average volume of 382,298. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization of $129.05 billion, a PE ratio of 67.52, a PEG ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,635.88. The company's fifty day moving average is $2,217.71 and its 200 day moving average is $2,030.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period last year, the company earned $6.78 earnings per share. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MELI. Bank of America increased their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays increased their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald reduced their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $2,572.86.

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.