Diversify Advisory Services LLC Purchases 123 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Diversify Advisory Services LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 71.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 295 shares of the company's stock after buying an additional 123 shares during the quarter. Diversify Advisory Services LLC's holdings in MercadoLibre were worth $576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospect Financial Services LLC raised its stake in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after purchasing an additional 100 shares during the last quarter. Stratos Investment Management LLC acquired a new stake in MercadoLibre during the first quarter worth about $203,000. JARISLOWSKY FRASER Ltd grew its holdings in MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after acquiring an additional 987 shares during the period. Avant Financial Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $316,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new stake in MercadoLibre during the fourth quarter worth about $2,500,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,413.57 on Friday. The company has a market cap of $122.37 billion, a price-to-earnings ratio of 59.36, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. The stock has a 50 day simple moving average of $2,492.77 and a 200-day simple moving average of $2,184.50. MercadoLibre, Inc. has a 12-month low of $1,579.78 and a 12-month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter in the prior year, the firm earned $6.78 EPS. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on MELI shares. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Barclays lifted their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.

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.

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