First Foundation Advisors boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,625 shares of the company's stock after purchasing an additional 194 shares during the period. First Foundation Advisors' holdings in MercadoLibre were worth $5,121,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Texas Yale Capital Corp. boosted its holdings in shares of MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after acquiring an additional 5 shares during the period. Meiji Yasuda Life Insurance Co raised its position in shares of MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after buying an additional 5 shares in the last quarter. Formidable Asset Management LLC raised its position in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares in the last quarter. Finally, Sonora Investment Management Group LLC raised its position in shares of MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MELI has been the subject of a number of analyst reports. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Scotiabank started coverage on shares of MercadoLibre in a research note on Monday. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,707.50.
Get Our Latest Report on MercadoLibre
MercadoLibre Stock Performance
MELI traded up $2.03 on Friday, hitting $2,375.92. The company's stock had a trading volume of 374,489 shares, compared to its average volume of 388,409. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The firm has a market cap of $120.46 billion, a P/E ratio of 58.43, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The company's 50 day simple moving average is $2,458.47 and its 200-day simple moving average is $2,219.50.
MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion for 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 business's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the company posted $6.78 EPS. Analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.
MercadoLibre Company 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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