Granite Group Advisors LLC Purchases Shares of 113 MercadoLibre, Inc. (NASDAQ:MELI)

Granite Group Advisors LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 113 shares of the company's stock, valued at approximately $220,000.

A number of other large investors have also added to or reduced their stakes in MELI. Key Financial Inc acquired a new position in shares of MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Covestor Ltd bought a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth approximately $32,000. Institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Finally, UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,639.69.

MercadoLibre Trading Down 1.3%

MELI stock traded down $31.99 during midday trading on Friday, hitting $2,359.06. The stock had a trading volume of 242,921 shares, compared to its average volume of 393,460. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The firm has a market cap of $119.60 billion, a P/E ratio of 58.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The business has a fifty day moving average price of $2,480.35 and a two-hundred day moving average price of $2,198.06. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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 business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm's revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.78 earnings per share. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.