U.S. Capital Wealth Advisors LLC Grows Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

U.S. Capital Wealth Advisors LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 78.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,474 shares of the company's stock after buying an additional 649 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in MercadoLibre were worth $2,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Covestor Ltd purchased a new position in MercadoLibre in the fourth quarter worth $27,000. Heck Capital Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth $32,000. VSM Wealth Advisory LLC purchased a new position in MercadoLibre in the fourth quarter worth $37,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in MercadoLibre by 375.0% in the first 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 during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

NASDAQ:MELI traded up $0.48 during trading hours on Wednesday, hitting $2,477.08. 239,588 shares of the company's stock traded hands, compared to its average volume of 387,778. The firm has a market cap of $125.59 billion, a P/E ratio of 60.92, a P/E/G ratio of 1.49 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The business's fifty day simple moving average is $2,478.82 and its two-hundred day simple moving average is $2,146.93. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the company earned $6.78 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MELI. Cantor Fitzgerald cut their price objective on 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. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Barclays increased their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.