Spire Wealth Management grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 581.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,007 shares of the company's stock after purchasing an additional 2,566 shares during the quarter. Spire Wealth Management's holdings in MercadoLibre were worth $5,866,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. lifted its holdings in shares of MercadoLibre by 2.5% during the fourth 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 last quarter. Texas Yale Capital Corp. raised its stake in MercadoLibre by 0.3% during 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 last quarter. Meiji Yasuda Life Insurance Co boosted its holdings 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 worth $272,000 after purchasing an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
MELI has been the subject of several research reports. Susquehanna reiterated a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday. JPMorgan Chase & Co. raised 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 reissued a "hold" rating and set a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Barclays increased 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. Finally, Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.
Get Our Latest Report on MELI
MercadoLibre Price Performance
Shares of MELI traded down $0.15 on Friday, hitting $2,560.05. The company's stock had a trading volume of 295,819 shares, compared to its average volume of 387,339. The company has a market capitalization of $129.79 billion, a PE ratio of 62.96, a PEG ratio of 1.52 and a beta of 1.51. MercadoLibre, Inc. has a fifty-two week low of $1,563.21 and a fifty-two week high of $2,635.88. The company has a 50 day moving average price of $2,432.13 and a 200 day moving average price of $2,109.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (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 business's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.78 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.
MercadoLibre Company Profile
(
Free Report)
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.
See Also

Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.