Grandview Asset Management LLC Acquires Shares of 111 MercadoLibre, Inc. (NASDAQ:MELI)

Grandview Asset Management LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 111 shares of the company's stock, valued at approximately $217,000.

A number of other large investors have also recently made changes to their positions in the business. Bank Pictet & Cie Europe AG bought a new position in shares of MercadoLibre during the fourth quarter valued at about $561,000. Rhumbline Advisers lifted its position in shares of MercadoLibre by 3.9% during the fourth quarter. Rhumbline Advisers now owns 9,928 shares of the company's stock valued at $16,882,000 after purchasing an additional 377 shares in the last quarter. Montag A & Associates Inc. lifted its position in shares of MercadoLibre by 2.1% during the fourth quarter. Montag A & Associates Inc. now owns 385 shares of the company's stock valued at $655,000 after purchasing an additional 8 shares in the last quarter. Allworth Financial LP lifted its position in shares of MercadoLibre by 102.7% during the fourth quarter. Allworth Financial LP now owns 687 shares of the company's stock valued at $1,250,000 after purchasing an additional 348 shares in the last quarter. Finally, Americana Partners LLC lifted its position in shares of MercadoLibre by 41.0% during the fourth quarter. Americana Partners LLC now owns 1,371 shares of the company's stock valued at $2,331,000 after purchasing an additional 399 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MELI. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. 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. 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. Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,389.48 on Wednesday. The company has a 50 day moving average of $2,361.70 and a 200 day moving average of $2,080.23. The stock has a market cap of $121.15 billion, a P/E ratio of 58.77, a P/E/G ratio of 1.37 and a beta of 1.51. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,635.88. 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.78 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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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