Assetmark Inc. Has $5.52 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Assetmark Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,828 shares of the company's stock after acquiring an additional 350 shares during the quarter. Assetmark Inc.'s holdings in MercadoLibre were worth $5,517,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Prospect Financial Services LLC boosted its holdings in MercadoLibre by 41.7% during 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 in the last quarter. Stratos Investment Management LLC bought a new position in shares of MercadoLibre during the 1st quarter worth approximately $203,000. JARISLOWSKY FRASER Ltd boosted its stake in MercadoLibre by 43.6% in the 4th 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 in the last quarter. Avant Financial Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at $316,000. Finally, Blue Sky Capital Consultants Group Inc. bought a new stake in MercadoLibre in the fourth quarter valued at $2,500,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MELI shares. 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 report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Barclays decreased their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,707.50.

MercadoLibre Trading Up 0.2%

MELI stock traded up $4.79 during midday trading on Friday, reaching $2,378.68. The stock had a trading volume of 162,229 shares, compared to its average volume of 387,818. The firm has a market cap of $120.60 billion, a price-to-earnings ratio of 58.54, a PEG ratio of 1.42 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $2,458.47 and a two-hundred day simple moving average of $2,219.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued 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 company 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%. MercadoLibre's revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.78 EPS. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.