Financial Counselors Inc. purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 154 shares of the company's stock, valued at approximately $300,000.
A number of other institutional investors have also bought and sold shares of MELI. Bank Pictet & Cie Europe AG purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $561,000. Edgestream Partners L.P. purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $682,000. Independent Advisor Alliance grew its position in shares of MercadoLibre by 12.3% during the fourth quarter. Independent Advisor Alliance now owns 776 shares of the company's stock valued at $1,319,000 after purchasing an additional 85 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of MercadoLibre by 7.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,605 shares of the company's stock valued at $2,729,000 after purchasing an additional 114 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of MercadoLibre by 123.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 145 shares of the company's stock valued at $247,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.
MercadoLibre Stock Down 0.6%
NASDAQ:MELI traded down $14.65 during trading hours on Friday, reaching $2,387.45. The company's stock had a trading volume of 341,673 shares, compared to its average volume of 389,303. The company has a market capitalization of $121.04 billion, a P/E ratio of 58.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a 50 day moving average price of $2,486.03 and a two-hundred day moving average price of $2,161.17.
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 analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.78 earnings per share. Equities analysts predict 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. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. 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 report on Thursday, May 8th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.
Check Out Our Latest Analysis on MercadoLibre
About MercadoLibre
(
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.
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