Leo Wealth LLC Sells 418 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Leo Wealth LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 67.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205 shares of the company's stock after selling 418 shares during the quarter. Leo Wealth LLC's holdings in MercadoLibre were worth $400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew its holdings in MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after buying an additional 5 shares in the last quarter. Texas Yale Capital Corp. grew its holdings in MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after buying an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after buying an additional 5 shares in the last quarter. Formidable Asset Management LLC grew its holdings in MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares in the last quarter. Finally, Revolve Wealth Partners LLC grew its holdings in MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MELI. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Susquehanna restated a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Stock Up 2.4%

NASDAQ MELI traded up $56.62 on Friday, reaching $2,407.76. 233,408 shares of the stock traded hands, compared to its average volume of 387,314. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The company has a fifty day moving average price of $2,493.54 and a 200-day moving average price of $2,176.24. The company has a market cap of $122.07 billion, a price-to-earnings ratio of 59.23, a PEG ratio of 1.43 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 released its quarterly 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 firm had revenue of $5.94 billion during 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%. The business's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.78 EPS. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.