Petredis Investment Advisors LLC Acquires 130 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Petredis Investment Advisors LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also made changes to their positions in MELI. Oppenheimer & Co. Inc. grew its stake in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after buying an additional 143 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in MercadoLibre in the fourth quarter valued at $2,619,000. Prospect Financial Services LLC boosted its holdings in MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of MercadoLibre by 34.1% during the 4th quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company's stock worth $5,957,000 after acquiring an additional 891 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in MercadoLibre by 47.3% in the fourth quarter. Apollon Wealth Management LLC now owns 629 shares of the company's stock valued at $1,070,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.1%

MercadoLibre stock traded up $3.16 during midday trading on Friday, hitting $2,371.98. 341,577 shares of the stock were exchanged, compared to its average volume of 385,718. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The stock has a market capitalization of $120.25 billion, a PE ratio of 62.92, a P/E/G ratio of 1.12 and a beta of 1.51. 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 company has a fifty day simple moving average of $2,340.95 and a two-hundred day simple moving average of $2,074.37.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same period last year, the business earned $6.78 EPS. The business's quarterly revenue was up 37.0% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MELI shares. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus target price of $2,632.50.

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.