J.W. Cole Advisors Inc. Has $2.92 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

J.W. Cole Advisors Inc. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,494 shares of the company's stock after purchasing an additional 112 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in MercadoLibre were worth $2,915,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Key Financial Inc acquired a new stake in MercadoLibre in the first quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre in the fourth quarter worth approximately $26,000. Covestor Ltd acquired a new stake in MercadoLibre in the fourth quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of 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 acquiring an additional 15 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent research reports. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $5.66 during mid-day trading on Tuesday, hitting $2,384.72. The company had a trading volume of 266,471 shares, compared to its average volume of 388,698. 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 business's 50-day simple moving average is $2,492.77 and its 200-day simple moving average is $2,187.43. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The firm has a market cap of $120.91 billion, a P/E ratio of 58.51, a PEG ratio of 1.41 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The firm 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%. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.78 earnings per share. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.