Symmetry Partners LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 115 shares of the company's stock, valued at approximately $224,000.
Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of MercadoLibre by 21.5% in the 1st quarter. International Assets Investment Management LLC now owns 158 shares of the company's stock valued at $308,000 after purchasing an additional 28 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of MercadoLibre during the 1st quarter valued at $601,000. E Fund Management Hong Kong Co. Ltd. grew its position 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 acquiring an additional 15 shares during the last quarter. AssuredPartners Investment Advisors LLC increased its holdings in MercadoLibre by 5.7% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 747 shares of the company's stock worth $1,457,000 after purchasing an additional 40 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of MercadoLibre by 0.3% during the first quarter. Asset Management One Co. Ltd. now owns 32,490 shares of the company's stock valued at $63,384,000 after purchasing an additional 86 shares in the last quarter. Institutional investors own 87.62% of the company's stock.
Analyst Ratings Changes
MELI has been the subject of several recent research reports. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Barclays upped their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Finally, Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $2,632.50.
View Our Latest Research Report on MELI
MercadoLibre Stock Up 3.1%
Shares of NASDAQ MELI traded up $76.06 during midday trading on Tuesday, hitting $2,528.95. 313,236 shares of the stock traded hands, compared to its average volume of 386,456. MercadoLibre, Inc. has a one year low of $1,563.21 and a one year high of $2,635.88. The business has a 50 day moving average price of $2,395.97 and a two-hundred day moving average price of $2,093.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The company has a market cap of $128.22 billion, a PE ratio of 62.20, a P/E/G ratio of 1.34 and a beta of 1.51.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business's quarterly revenue was up 37.0% compared to the same quarter last year. During the same period last year, the firm earned $6.78 earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.
MercadoLibre Company Profile
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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.
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