Hohimer Wealth Management LLC Sells 187 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Hohimer Wealth Management LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 34.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 351 shares of the company's stock after selling 187 shares during the period. Hohimer Wealth Management LLC's holdings in MercadoLibre were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Prospect Financial Services LLC lifted its stake in MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after purchasing an additional 100 shares during the last quarter. Stratos Investment Management LLC bought a new position in shares of MercadoLibre during the first quarter valued at about $203,000. JARISLOWSKY FRASER Ltd grew its stake in shares of MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after buying an additional 987 shares during the last quarter. Avant Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth about $316,000. Finally, Blue Sky Capital Consultants Group Inc. purchased a new stake in shares of MercadoLibre during the fourth quarter worth about $2,500,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,387.45 on Monday. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22. 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 fifty day simple moving average of $2,486.03 and a 200 day simple moving average of $2,164.17. The stock has a market capitalization of $121.04 billion, a PE ratio of 58.72, a P/E/G ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping 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 analysts' expectations of $5.55 billion. During the same period in the previous year, the business posted $6.78 earnings per share. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Barclays upped their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.

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