Harel Insurance Investments & Financial Services Ltd. Purchases 591 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Harel Insurance Investments & Financial Services Ltd. lifted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 221.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 858 shares of the company's stock after purchasing an additional 591 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in MercadoLibre were worth $1,674,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at about $26,000. Covestor Ltd bought a new position in MercadoLibre during the 4th quarter valued at approximately $27,000. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $32,000. VSM Wealth Advisory LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in MercadoLibre by 375.0% during the 1st 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 during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI traded up $34.98 on Friday, reaching $2,507.03. The company's stock had a trading volume of 194,179 shares, compared to its average volume of 388,884. The stock's 50 day simple moving average is $2,469.05 and its two-hundred day simple moving average is $2,132.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $127.11 billion, a P/E ratio of 61.66, a PEG ratio of 1.49 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.

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, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the firm posted $6.78 EPS. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Cantor Fitzgerald cut their price objective on shares of 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. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Barclays increased their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.

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.