Concurrent Investment Advisors LLC Boosts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Concurrent Investment Advisors LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 31.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451 shares of the company's stock after purchasing an additional 107 shares during the period. Concurrent Investment Advisors LLC's holdings in MercadoLibre were worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Capital International Investors grew its stake in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after acquiring an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after acquiring an additional 405,425 shares in the last quarter. Capital World Investors grew its stake in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Norges Bank purchased a new stake in MercadoLibre during the 4th quarter valued at about $383,051,000. Finally, Capital Research Global Investors grew its stake in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after acquiring an additional 179,807 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MELI. Cantor Fitzgerald dropped their price objective 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. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Barclays boosted their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Trading Down 0.6%

Shares of MELI stock traded down $13.96 during trading hours on Friday, hitting $2,388.14. The company had a trading volume of 140,377 shares, compared to its average volume of 402,437. The company's fifty day moving average is $2,483.90 and its 200 day moving average is $2,153.84. 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 $1,579.78 and a fifty-two week high of $2,645.22. The stock has a market capitalization of $121.07 billion, a PE ratio of 58.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the business posted $6.78 EPS. The business's revenue for the quarter was up 37.0% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.