Milestones Administradora de Recursos Ltda. Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Milestones Administradora de Recursos Ltda. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,261 shares of the company's stock after selling 453 shares during the quarter. MercadoLibre accounts for about 3.2% of Milestones Administradora de Recursos Ltda.'s holdings, making the stock its 9th largest position. Milestones Administradora de Recursos Ltda.'s holdings in MercadoLibre were worth $6,362,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp bought a new stake in shares of MercadoLibre during the 1st quarter valued at $205,000. Montag A & Associates Inc. increased its stake in MercadoLibre by 48.8% in the 1st quarter. Montag A & Associates Inc. now owns 573 shares of the company's stock worth $1,118,000 after acquiring an additional 188 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in MercadoLibre in the 1st quarter worth about $412,000. Csenge Advisory Group increased its stake in MercadoLibre by 5.8% in the 1st quarter. Csenge Advisory Group now owns 1,227 shares of the company's stock worth $2,575,000 after acquiring an additional 67 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in MercadoLibre by 9.7% in the 1st quarter. Private Advisor Group LLC now owns 552 shares of the company's stock worth $1,077,000 after acquiring an additional 49 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 2.7%

Shares of MELI stock opened at $2,413.57 on Friday. The stock has a market capitalization of $122.37 billion, a PE ratio of 59.36, a P/E/G ratio of 1.43 and a beta of 1.49. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22. The business has a 50-day moving average of $2,492.77 and a 200 day moving average of $2,184.50. 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 issued its earnings results 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. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the prior year, the business posted $6.78 EPS. MercadoLibre's quarterly revenue was up 37.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MELI shares. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Finally, Susquehanna reiterated 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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