K.J. Harrison & Partners Inc increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 40.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 700 shares of the company's stock after buying an additional 200 shares during the period. K.J. Harrison & Partners Inc's holdings in MercadoLibre were worth $1,366,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MELI. 1620 Investment Advisors Inc. grew its holdings in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after acquiring an additional 5 shares during the period. Texas Yale Capital Corp. grew its holdings in shares of MercadoLibre by 0.3% during the fourth 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 during the last quarter. Meiji Yasuda Life Insurance Co increased its holdings in shares of MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after purchasing an additional 5 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in shares of MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after purchasing an additional 5 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on MELI. Susquehanna restated a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. The Goldman Sachs Group increased their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Jefferies Financial Group reissued 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. Finally, 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 research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.
Get Our Latest Research Report on MELI
MercadoLibre Price Performance
Shares of NASDAQ MELI traded down $29.35 during midday trading on Wednesday, reaching $2,472.05. 415,717 shares of the stock traded hands, compared to its average volume of 388,565. The company's 50 day moving average is $2,450.74 and its 200 day moving average is $2,120.85. MercadoLibre, Inc. has a one year low of $1,563.21 and a one year high of $2,645.22. The stock has a market capitalization of $125.33 billion, a PE ratio of 60.80, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.
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, beating 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 the consensus estimate of $5.55 billion. During the same quarter last year, the firm earned $6.78 EPS. The firm's revenue for the quarter was up 37.0% compared to the same quarter last year. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
About MercadoLibre
(
Free Report)
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.
Featured Stories
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
