Nutshell Asset Management Ltd bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 680 shares of the company's stock, valued at approximately $1,327,000. MercadoLibre comprises 0.7% of Nutshell Asset Management Ltd's portfolio, making the stock its 24th biggest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banco Santander S.A. grew its holdings in MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock worth $5,357,000 after acquiring an additional 1,893 shares in the last quarter. Prospect Financial Services LLC boosted its stake in MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after purchasing an additional 100 shares in the last quarter. Stratos Investment Management LLC purchased a new position in MercadoLibre during the 1st quarter worth approximately $203,000. JARISLOWSKY FRASER Ltd raised its position in MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after buying an additional 987 shares during the last quarter. Finally, Avant Financial Advisors LLC purchased a new position in MercadoLibre during the 4th quarter worth approximately $316,000. Institutional investors own 87.62% of the company's stock.
Wall Street Analyst Weigh In
MELI has been the subject of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Benchmark reissued a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2,795.00.
View Our Latest Analysis on MELI
MercadoLibre Stock Performance
Shares of MELI stock traded up $71.38 during trading hours on Tuesday, hitting $2,363.42. The stock had a trading volume of 227,610 shares, compared to its average volume of 394,626. The firm has a market capitalization of $119.83 billion, a PE ratio of 58.43, a PEG ratio of 1.47 and a beta of 1.46. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock's 50 day moving average is $2,431.57 and its 200 day moving average is $2,250.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the business earned $10.48 earnings per share. MercadoLibre's revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.
About MercadoLibre
(
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.
Further Reading
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
