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

Heirloom Wealth Management boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,954 shares of the company's stock after buying an additional 310 shares during the quarter. MercadoLibre accounts for approximately 3.3% of Heirloom Wealth Management's holdings, making the stock its 11th biggest holding. Heirloom Wealth Management's holdings in MercadoLibre were worth $11,615,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $32,000. VSM Wealth Advisory LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of MercadoLibre by 375.0% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,560.05 on Friday. The firm's 50 day moving average price is $2,432.13 and its two-hundred day moving average price is $2,109.52. 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 market cap of $129.79 billion, a P/E ratio of 62.96, a PEG ratio of 1.52 and a beta of 1.51. MercadoLibre, Inc. has a twelve month low of $1,563.21 and a twelve month high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the firm posted $6.78 earnings per share. The company's quarterly revenue was up 37.0% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MELI shares. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, MercadoLibre 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.

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