Resonant Capital Advisors LLC Makes New $220,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Resonant Capital Advisors LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 113 shares of the company's stock, valued at approximately $220,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew its position in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after buying an additional 5 shares during the period. Texas Yale Capital Corp. grew its position in MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after purchasing an additional 5 shares during the period. Meiji Yasuda Life Insurance Co grew 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 purchasing an additional 5 shares during the period. Formidable Asset Management LLC grew its position in 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 purchasing an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC grew its position in MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after purchasing an additional 5 shares during the period. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Susquehanna restated a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Finally, Barclays lifted their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $12.97 during midday trading on Monday, hitting $2,501.08. 311,383 shares of the company's stock were exchanged, compared to its average volume of 388,712. MercadoLibre, Inc. has a 12-month low of $1,579.78 and a 12-month 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 company has a market cap of $126.80 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 1.49 and a beta of 1.49. The business's fifty day moving average price is $2,474.90 and its two-hundred day moving average price is $2,144.63.

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

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.