Exchange Traded Concepts LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,898 shares of the company's stock after selling 985 shares during the quarter. Exchange Traded Concepts LLC's holdings in MercadoLibre were worth $7,604,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Human Investing LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Covestor Ltd bought a new position in shares of MercadoLibre in the fourth quarter valued at $27,000. Heck Capital Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at $32,000. Finally, VSM Wealth Advisory LLC bought a new position in MercadoLibre during the fourth quarter worth $37,000. 87.62% of the stock is owned by institutional investors.
MercadoLibre Stock Up 0.1%
MELI stock opened at $2,371.98 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $120.25 billion, a PE ratio of 62.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The business has a 50-day simple moving average of $2,340.95 and a 200 day simple moving average of $2,074.79.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.78 earnings per share. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.
Analyst Ratings Changes
MELI has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Finally, Susquehanna boosted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,632.50.
Get Our Latest Research Report on MercadoLibre
MercadoLibre Company Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
