Strategic Financial Concepts LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 99.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173 shares of the company's stock after selling 181,783 shares during the period. Strategic Financial Concepts LLC's holdings in MercadoLibre were worth $338,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. INCA Investments LLC grew its holdings in shares of MercadoLibre by 2.3% in the 1st quarter. INCA Investments LLC now owns 14,890 shares of the company's stock worth $29,048,000 after acquiring an additional 331 shares during the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of MercadoLibre by 10.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 75 shares of the company's stock valued at $145,000 after purchasing an additional 7 shares during the period. Krane Funds Advisors LLC increased its stake in MercadoLibre by 27.4% in the 1st quarter. Krane Funds Advisors LLC now owns 274 shares of the company's stock worth $535,000 after purchasing an additional 59 shares in the last quarter. DAVENPORT & Co LLC increased its stake in MercadoLibre by 0.9% in the 1st quarter. DAVENPORT & Co LLC now owns 5,056 shares of the company's stock worth $9,864,000 after purchasing an additional 47 shares in the last quarter. Finally, Provident Co of the Employees of the Hebrew University LTD purchased a new stake in MercadoLibre during the first quarter valued at about $1,458,000. Institutional investors own 87.62% of the company's stock.
MercadoLibre Stock Up 1.4%
Shares of MercadoLibre stock opened at $2,507.03 on Friday. The firm has a market cap of $127.11 billion, a price-to-earnings ratio of 61.66, a P/E/G ratio of 1.47 and a beta of 1.49. The stock has a 50-day simple moving average of $2,463.43 and a 200-day simple moving average of $2,128.17. MercadoLibre, Inc. has a 52-week low of $1,579.78 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.
MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $6.78 earnings per share. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
MELI has been the topic of several analyst reports. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. UBS Group set a $3,000.00 target price on MercadoLibre in a report on Monday, June 2nd. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. 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 two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.
View Our Latest Stock Report on MELI
MercadoLibre Profile
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Free Report)
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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