Harbor Capital Advisors Inc. Has $3.15 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Harbor Capital Advisors Inc. decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 33.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,612 shares of the company's stock after selling 820 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in MercadoLibre were worth $3,145,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its position in shares of MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after purchasing an additional 143 shares during the period. Prospect Financial Services LLC raised its position in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after purchasing an additional 100 shares during the period. Jones Financial Companies Lllp raised its position in shares of MercadoLibre by 34.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company's stock valued at $5,957,000 after purchasing an additional 891 shares during the period. Apollon Wealth Management LLC increased its position in MercadoLibre by 47.3% during the fourth quarter. Apollon Wealth Management LLC now owns 629 shares of the company's stock worth $1,070,000 after acquiring an additional 202 shares during the period. Finally, JARISLOWSKY FRASER Ltd increased its position in MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after acquiring an additional 987 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded up $3.16 on Friday, hitting $2,371.98. The stock had a trading volume of 341,577 shares, compared to its average volume of 385,718. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm's 50 day moving average price is $2,340.95 and its 200-day moving average price is $2,074.37. The company has a market capitalization of $120.25 billion, a price-to-earnings ratio of 62.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 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 company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the company earned $6.78 EPS. The firm's revenue for the quarter was up 37.0% compared to the same quarter last year. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MELI. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research report on Monday, June 2nd. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $2,632.50.

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.