Petredis Investment Advisors LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,433 shares of the company's stock after acquiring an additional 130 shares during the period. Petredis Investment Advisors LLC's holdings in MercadoLibre were worth $4,746,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. 1620 Investment Advisors Inc. lifted its position in shares of MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after purchasing an additional 5 shares in the last quarter. Texas Yale Capital Corp. lifted its holdings in MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after buying an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its position in MercadoLibre by 0.5% in the 4th 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 during the last quarter. Formidable Asset Management LLC increased its stake in shares of MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC lifted its stake in shares of MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.
MercadoLibre Stock Down 0.4%
Shares of MELI traded down $9.44 on Wednesday, hitting $2,387.00. The company's stock had a trading volume of 498,199 shares, compared to its average volume of 385,250. The firm's fifty day moving average price is $2,307.64 and its 200-day moving average price is $2,068.51. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $121.01 billion, a price-to-earnings ratio of 63.32, a P/E/G ratio of 1.12 and a beta of 1.51.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the previous year, the firm posted $6.78 earnings per share. The business's revenue was up 37.0% on a year-over-year basis. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on MELI shares. Barclays boosted their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. JPMorgan Chase & Co. raised 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. Finally, Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,632.50.
Check Out Our Latest Report on MELI
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.
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