Segment Wealth Management LLC Invests $1.55 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Segment Wealth Management LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 796 shares of the company's stock, valued at approximately $1,553,000.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the period. Capital International Investors raised its stake in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the period. Capital World Investors lifted its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after acquiring an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of MercadoLibre by 0.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock valued at $927,239,000 after purchasing an additional 2,048 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Price Performance

MELI stock opened at $2,402.75 on Friday. MercadoLibre, Inc. has a one year low of $1,563.21 and a one year high of $2,635.88. The firm has a 50-day moving average of $2,379.52 and a two-hundred day moving average of $2,085.56. The firm has a market capitalization of $121.82 billion, a PE ratio of 59.09, a P/E/G ratio of 1.34 and a beta of 1.51. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business 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 business earned $6.78 earnings per share. The firm's revenue was up 37.0% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.

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