Miller Financial Services LLC Sells 247 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Miller Financial Services LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 53.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214 shares of the company's stock after selling 247 shares during the quarter. Miller Financial Services LLC's holdings in MercadoLibre were worth $417,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MELI. Bank Pictet & Cie Europe AG acquired a new stake in shares of MercadoLibre during the 4th quarter worth $561,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of MercadoLibre by 25.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 839 shares of the company's stock worth $1,427,000 after buying an additional 171 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of MercadoLibre by 32.0% during the 4th quarter. TD Private Client Wealth LLC now owns 66 shares of the company's stock worth $112,000 after buying an additional 16 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of MercadoLibre during the 4th quarter worth $26,187,000. Finally, Fortis Capital Management LLC increased its holdings in shares of MercadoLibre by 22.9% during the 4th quarter. Fortis Capital Management LLC now owns 2,912 shares of the company's stock worth $4,952,000 after buying an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.2%

MELI traded up $5.66 during trading on Tuesday, reaching $2,384.72. 266,471 shares of the company's stock were exchanged, compared to its average volume of 387,920. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $120.91 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. The firm has a fifty day moving average price of $2,492.77 and a two-hundred day moving average price of $2,187.43.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the firm posted $6.78 EPS. The company's quarterly revenue was up 37.0% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MELI shares. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Barclays raised their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald cut 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 report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Profile

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.