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

Resonant Capital Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 113 shares of the company's stock, valued at approximately $220,000.

A number of other institutional investors also recently bought and sold shares of the business. Prospect Financial Services LLC lifted its position in MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after acquiring an additional 100 shares during the period. JARISLOWSKY FRASER Ltd lifted its holdings in shares of MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after purchasing an additional 987 shares during the period. Avant Financial Advisors LLC purchased a new position in MercadoLibre in the 4th quarter valued at $316,000. Blue Sky Capital Consultants Group Inc. acquired a new position in MercadoLibre in the 4th quarter valued at $2,500,000. Finally, Alta Capital Management LLC increased its stake in MercadoLibre by 97.9% in the 1st quarter. Alta Capital Management LLC now owns 14,728 shares of the company's stock valued at $28,732,000 after buying an additional 7,284 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.4%

Shares of MELI stock traded up $34.98 on Friday, reaching $2,507.03. 194,179 shares of the stock were exchanged, compared to its average volume of 388,884. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The stock has a market cap of $127.11 billion, a P/E ratio of 61.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The firm has a 50 day moving average of $2,469.05 and a two-hundred day moving average of $2,132.99. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its 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. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company's revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.78 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MELI shares. Barclays raised their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Company 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.