Provident Co of the Employees of the Hebrew University LTD Invests $1.46 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Provident Co of the Employees of the Hebrew University LTD purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 748 shares of the company's stock, valued at approximately $1,458,000. MercadoLibre makes up approximately 1.7% of Provident Co of the Employees of the Hebrew University LTD's holdings, making the stock its 26th biggest holding.

Other large investors have also recently bought and sold shares of the company. Summit Trail Advisors LLC purchased a new position in shares of MercadoLibre during the 1st quarter valued at $211,000. Clear Creek Financial Management LLC acquired a new stake in MercadoLibre during the first quarter valued at $213,000. Cidel Asset Management Inc. grew its stake in MercadoLibre by 0.6% in the first quarter. Cidel Asset Management Inc. now owns 10,050 shares of the company's stock valued at $19,606,000 after purchasing an additional 63 shares in the last quarter. Mather Group LLC. grew its stake in MercadoLibre by 115.8% in the first quarter. Mather Group LLC. now owns 41 shares of the company's stock valued at $79,000 after purchasing an additional 22 shares in the last quarter. Finally, Smith Salley Wealth Management increased its position in MercadoLibre by 5.5% in the 1st quarter. Smith Salley Wealth Management now owns 1,531 shares of the company's stock worth $2,987,000 after purchasing an additional 80 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI traded down $112.23 during trading on Tuesday, hitting $2,501.40. The company's stock had a trading volume of 573,385 shares, compared to its average volume of 388,254. MercadoLibre, Inc. has a 52 week low of $1,563.21 and a 52 week high of $2,645.42. The firm has a market cap of $126.82 billion, a P/E ratio of 61.52, a price-to-earnings-growth ratio of 1.52 and a beta of 1.51. The firm has a 50 day moving average price of $2,443.28 and a 200 day moving average price of $2,118.19. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.