Silvercrest Asset Management Group LLC Has $12.73 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Silvercrest Asset Management Group LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,488 shares of the company's stock after acquiring an additional 596 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in MercadoLibre were worth $12,732,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MELI. Human Investing LLC bought a new position in MercadoLibre during the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. boosted its holdings in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 8 shares during the period. Covestor Ltd bought a new stake in shares of MercadoLibre during the 4th quarter worth about $27,000. Finally, Heck Capital Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $32,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the topic of several research reports. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Bank of America increased their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. StockNews.com cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Cantor Fitzgerald reduced their price target on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,551.43.

MercadoLibre Trading Up 0.9%

NASDAQ:MELI traded up $22.76 during mid-day trading on Wednesday, hitting $2,601.97. 344,434 shares of the company's stock were exchanged, compared to its average volume of 383,113. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,623.52. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $131.91 billion, a P/E ratio of 69.02, a PEG ratio of 1.12 and a beta of 1.61. The company has a 50 day simple moving average of $2,158.30 and a 200-day simple moving average of $2,007.13.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the firm earned $6.78 earnings per share. The company's revenue for the quarter was up 37.0% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.