Kovack Advisors Inc. Has $1.30 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Kovack Advisors Inc. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 69.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 666 shares of the company's stock after selling 1,498 shares during the quarter. Kovack Advisors Inc.'s holdings in MercadoLibre were worth $1,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MELI. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $561,000. LPL Financial LLC lifted its stake in MercadoLibre by 13.4% in the 4th quarter. LPL Financial LLC now owns 39,490 shares of the company's stock valued at $67,150,000 after acquiring an additional 4,678 shares in the last quarter. Vanguard Group Inc. lifted its stake in MercadoLibre by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 205,628 shares of the company's stock valued at $349,658,000 after acquiring an additional 2,900 shares in the last quarter. Korea Investment CORP lifted its stake in MercadoLibre by 6.7% in the 4th quarter. Korea Investment CORP now owns 47,360 shares of the company's stock valued at $80,533,000 after acquiring an additional 2,986 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in MercadoLibre by 6.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,637 shares of the company's stock valued at $67,198,000 after acquiring an additional 2,334 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on MELI. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Cantor Fitzgerald cut their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Finally, Susquehanna reiterated a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One equities 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,639.69.

MercadoLibre Stock Performance

NASDAQ MELI traded down $28.49 on Friday, reaching $2,362.56. The stock had a trading volume of 278,497 shares, compared to its average volume of 284,410. 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 firm has a fifty day moving average of $2,475.90 and a two-hundred day moving average of $2,202.14. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22. The company has a market cap of $119.78 billion, a P/E ratio of 58.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the firm posted $6.78 EPS. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current 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.