Zevin Asset Management LLC Has $31.83 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Zevin Asset Management LLC trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,313 shares of the company's stock after selling 1,194 shares during the period. MercadoLibre makes up approximately 5.0% of Zevin Asset Management LLC's holdings, making the stock its 2nd biggest holding. Zevin Asset Management LLC's holdings in MercadoLibre were worth $31,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Prospect Financial Services LLC grew its stake in MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after acquiring an additional 100 shares during the period. Stratos Investment Management LLC acquired a new position in MercadoLibre in the first quarter valued at about $203,000. JARISLOWSKY FRASER Ltd grew its stake in MercadoLibre by 43.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after acquiring an additional 987 shares during the period. Avant Financial Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $316,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new position in MercadoLibre in the fourth quarter valued at about $2,500,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.7%

MELI traded up $16.84 on Tuesday, hitting $2,395.90. 98,705 shares of the company were exchanged, compared to its average volume of 387,262. 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 stock's fifty day moving average is $2,492.77 and its 200-day moving average is $2,187.43. The company has a market cap of $121.47 billion, a PE ratio of 58.94, a PEG ratio of 1.43 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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 for 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 business's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.78 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MELI. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. 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. Finally, Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average 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.

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