MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its holdings in MercadoLibre, Inc. by 84.2%, owning 350 shares valued at approximately $684,000 after acquiring additional shares in the first quarter.
• Analysts have issued mixed ratings for MercadoLibre, with twelve buy ratings, three hold ratings, and one sell rating, resulting in a consensus target price of $2,690.29.
• MercadoLibre reported strong quarterly earnings with $9.74 earnings per share (EPS), surpassing expectations of $7.82 and demonstrating significant revenue growth of 37% compared to the previous year.

HB Wealth Management LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 84.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350 shares of the company's stock after acquiring an additional 160 shares during the period. HB Wealth Management LLC's holdings in MercadoLibre were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Bank Pictet & Cie Europe AG purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $561,000. Vanguard Group Inc. raised its holdings in shares of MercadoLibre by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 205,628 shares of the company's stock worth $349,658,000 after acquiring an additional 2,900 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of MercadoLibre by 51.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 1,232 shares of the company's stock worth $2,095,000 after acquiring an additional 420 shares in the last quarter. RWA Wealth Partners LLC increased its stake in MercadoLibre by 9.0% during the fourth quarter. RWA Wealth Partners LLC now owns 242 shares of the company's stock worth $412,000 after acquiring an additional 20 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in MercadoLibre by 9.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,280 shares of the company's stock worth $5,577,000 after acquiring an additional 280 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI stock traded up $2.03 during midday trading on Friday, reaching $2,375.92. The stock had a trading volume of 375,200 shares, compared to its average volume of 256,589. The stock has a market cap of $120.46 billion, a PE ratio of 58.43, a P/E/G ratio of 1.41 and a beta of 1.46. 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 firm has a fifty day simple moving average of $2,455.84 and a two-hundred day simple moving average of $2,223.79. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The company 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 firm's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the business posted $6.78 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MELI shares. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average price target of $2,707.50.

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.