OneDigital Investment Advisors LLC Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

OneDigital Investment Advisors LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 874 shares of the company's stock after purchasing an additional 102 shares during the quarter. OneDigital Investment Advisors LLC's holdings in MercadoLibre were worth $1,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MELI. Park Square Financial Group LLC acquired a new position in MercadoLibre during the 4th quarter valued at approximately $26,000. Covestor Ltd acquired a new position in MercadoLibre during the 4th quarter valued at approximately $27,000. Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at approximately $32,000. VSM Wealth Advisory LLC acquired a new position in MercadoLibre during the 4th quarter valued at approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Down 0.5%

Shares of MercadoLibre stock traded down $12.97 during mid-day trading on Monday, hitting $2,501.08. 311,383 shares of the stock were exchanged, compared to its average volume of 388,712. The stock has a market capitalization of $126.80 billion, a price-to-earnings ratio of 61.51, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $2,469.05 and a 200 day simple moving average of $2,139.17.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the firm posted $6.78 EPS. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MELI. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.