Montag A & Associates Inc. Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Montag A & Associates Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 48.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 573 shares of the company's stock after buying an additional 188 shares during the quarter. Montag A & Associates Inc.'s holdings in MercadoLibre were worth $1,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Key Financial Inc acquired a new stake in MercadoLibre during the first quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of MercadoLibre by 375.0% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.2%

MELI stock traded up $5.66 during mid-day trading on Tuesday, hitting $2,384.72. 266,454 shares of the company were exchanged, compared to its average volume of 387,920. 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 firm has a market capitalization of $120.91 billion, a P/E ratio of 58.65, a PEG ratio of 1.43 and a beta of 1.49. The business has a fifty day simple moving average of $2,492.77 and a 200-day simple moving average of $2,187.43. 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 data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping 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 company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter last year, the company earned $6.78 earnings per share. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Barclays lifted 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. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.