Geneva Partners LLC Invests $3.79 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Geneva Partners LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,943 shares of the company's stock, valued at approximately $3,791,000. MercadoLibre makes up 2.0% of Geneva Partners LLC's holdings, making the stock its 19th biggest position.

Several other large investors have also bought and sold shares of MELI. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $26,000. Covestor Ltd acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of MercadoLibre by 375.0% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after purchasing an additional 15 shares in the last quarter. Finally, VSM Wealth Advisory LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at $37,000. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of analyst reports. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. UBS Group set a $3,000.00 price target on MercadoLibre in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Trading Down 0.5%

NASDAQ:MELI opened at $2,501.08 on Tuesday. 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 $1,579.78 and a 1 year high of $2,645.22. The company has a market cap of $126.80 billion, a P/E ratio of 61.51, a P/E/G ratio of 1.49 and a beta of 1.49. The stock's fifty day moving average price is $2,474.90 and its two-hundred day moving average price is $2,144.63.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the business posted $6.78 earnings per share. The firm's revenue was up 37.0% compared to the same quarter last year. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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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