Wealth Enhancement Advisory Services LLC Purchases 169 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Wealth Enhancement Advisory Services LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,218 shares of the company's stock after purchasing an additional 169 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in MercadoLibre were worth $8,230,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MELI. Park Square Financial Group LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $26,000. Covestor Ltd bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $27,000. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $32,000. VSM Wealth Advisory LLC bought a new position in shares of MercadoLibre during the fourth quarter worth $37,000. Finally, Banque Transatlantique SA bought a new stake in MercadoLibre in the 4th quarter valued at $41,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the subject of a number of research analyst reports. Barclays raised their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Trading Down 0.0%

Shares of MELI traded down $0.15 during mid-day trading on Friday, reaching $2,560.05. 295,708 shares of the company's stock traded hands, compared to its average volume of 386,793. 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 stock's 50-day moving average is $2,422.92 and its two-hundred day moving average is $2,104.82. MercadoLibre, Inc. has a 12 month low of $1,563.21 and a 12 month high of $2,635.88. The stock has a market cap of $129.79 billion, a P/E ratio of 62.96, a P/E/G ratio of 1.51 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the company posted $6.78 EPS. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. Research analysts forecast 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.