Sheets Smith Wealth Management Acquires Shares of 308 MercadoLibre, Inc. (NASDAQ:MELI)

Sheets Smith Wealth Management acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 308 shares of the company's stock, valued at approximately $601,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Park Square Financial Group LLC acquired a new position in MercadoLibre during the 4th quarter worth $26,000. Covestor Ltd acquired a new position in MercadoLibre during the 4th quarter worth $27,000. Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth $32,000. VSM Wealth Advisory LLC acquired a new position in MercadoLibre during the 4th quarter worth $37,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in MercadoLibre by 375.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded down $0.15 on Friday, hitting $2,560.05. The stock had a trading volume of 295,819 shares, compared to its average volume of 387,891. The company's 50 day moving average price is $2,432.13 and its 200 day moving average price is $2,110.99. 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 stock has a market cap of $129.79 billion, a price-to-earnings ratio of 62.96, a P/E/G ratio of 1.52 and a beta of 1.51. MercadoLibre, Inc. has a 52-week low of $1,563.21 and a 52-week high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. The firm 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 firm's revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.78 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several analyst reports. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Finally, Barclays upped their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

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.