Commonwealth Equity Services LLC Has $17.53 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Commonwealth Equity Services LLC increased its holdings in MercadoLibre, Inc. by 6.9% to a total of 8,985 shares, valued at $17,529,000 as reported in its recent SEC filing.
• MercadoLibre's stock showed a 0.8% increase, with its current price at $2,334.82, and analysts project a consensus price target of $2,795.00.
• Despite reporting earnings per share of $10.31 for the last quarter, MercadoLibre missed analysts' expectations of $12.01 but surpassed revenue expectations with $6.79 billion reported.

Commonwealth Equity Services LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,985 shares of the company's stock after acquiring an additional 582 shares during the period. Commonwealth Equity Services LLC's holdings in MercadoLibre were worth $17,529,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Meiji Yasuda Life Insurance Co raised its holdings in MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after acquiring an additional 5 shares in the last quarter. Formidable Asset Management LLC raised its holdings in MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after acquiring an additional 5 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares in the last quarter. Sonora Investment Management Group LLC raised its holdings in MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after acquiring an additional 5 shares in the last quarter. Finally, Beacon Capital Management LLC raised its holdings in MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Benchmark reiterated a "buy" rating and set a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Susquehanna reiterated a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. Finally, Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,795.00.

MercadoLibre Stock Performance

Shares of MELI traded up $70.10 during mid-day trading on Tuesday, hitting $2,362.14. The company's stock had a trading volume of 188,722 shares, compared to its average volume of 394,362. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a market capitalization of $119.76 billion, a PE ratio of 58.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The stock's 50-day moving average is $2,431.57 and its two-hundred day moving average is $2,250.90.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the business posted $10.48 earnings per share. The firm's revenue was up 33.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS 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.