Victory Capital Management Inc. lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,587 shares of the company's stock after selling 317 shares during the period. Victory Capital Management Inc.'s holdings in MercadoLibre were worth $46,015,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Key Financial Inc acquired a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Covestor Ltd acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of 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. Institutional investors own 87.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna reissued a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.
Check Out Our Latest Report on MELI
MercadoLibre Stock Performance
MELI stock opened at $2,413.57 on Friday. The company has a market cap of $122.37 billion, a P/E ratio of 59.36, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. MercadoLibre, Inc. has a 1 year low of $1,579.78 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock's fifty day moving average price is $2,492.77 and its 200-day moving average price is $2,184.50.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period last year, the firm earned $6.78 EPS. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
About MercadoLibre
(
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.
Further Reading
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