CWA Asset Management Group LLC Sells 2,612 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

CWA Asset Management Group LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 96.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 107 shares of the company's stock after selling 2,612 shares during the period. CWA Asset Management Group LLC's holdings in MercadoLibre were worth $209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. increased its position in shares of MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after buying an additional 143 shares in the last quarter. Prospect Financial Services LLC increased its position in shares of MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of MercadoLibre by 34.1% in the 4th quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company's stock valued at $5,957,000 after buying an additional 891 shares in the last quarter. JARISLOWSKY FRASER Ltd increased its position in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after buying an additional 987 shares in the last quarter. Finally, Avant Financial Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $316,000. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on MELI shares. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Barclays raised their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,632.50.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,403.81 on Friday. The company's 50 day simple moving average is $2,387.65 and its 200 day simple moving average is $2,089.54. The stock has a market capitalization of $121.87 billion, a price-to-earnings ratio of 59.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. 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 1 year low of $1,563.21 and a 1 year high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.78 earnings per share. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.

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