Commonwealth Equity Services LLC Grows Holdings 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 boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,985 shares of the company's stock after purchasing 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Life Insurance Co lifted its holdings in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after acquiring an additional 5 shares during the period. Formidable Asset Management LLC increased its position in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after purchasing an additional 5 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares during the period. Sonora Investment Management Group LLC boosted its holdings in shares of MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after buying an additional 5 shares during the last quarter. Finally, Beacon Capital Management LLC grew its position in MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 0.8%

Shares of NASDAQ:MELI opened at $2,334.82 on Friday. The firm has a fifty day moving average of $2,441.77 and a 200 day moving average of $2,238.33. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week 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 $118.38 billion, a PE ratio of 57.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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). The firm had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. MercadoLibre's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.48 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MELI. Benchmark reiterated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,795.00.

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.

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