MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 799 shares of the company's stock after purchasing an additional 170 shares during the quarter. Flagship Harbor Advisors LLC's holdings in MercadoLibre were worth $1,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Park Square Financial Group LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Covestor Ltd purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $27,000. Heck Capital Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $32,000. VSM Wealth Advisory LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $37,000. Finally, Banque Transatlantique SA purchased a new stake in shares of MercadoLibre during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ:MELI traded up $11.55 during trading hours on Wednesday, hitting $2,540.50. The company's stock had a trading volume of 303,068 shares, compared to its average volume of 387,111. The business's 50-day moving average is $2,413.70 and its two-hundred day moving average is $2,099.89. The company has a market capitalization of $128.80 billion, a PE ratio of 62.48, a PEG ratio of 1.50 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52-week low of $1,563.21 and a 52-week 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, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.78 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MELI shares. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,632.50.

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.