First Trust Advisors LP Has $22.11 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

First Trust Advisors LP increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 25.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,004 shares of the company's stock after purchasing an additional 2,609 shares during the quarter. First Trust Advisors LP's holdings in MercadoLibre were worth $22,113,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. lifted its stake in 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 purchasing an additional 5 shares during the last quarter. Texas Yale Capital Corp. boosted its stake in MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after buying an additional 5 shares in the last quarter. Nvwm LLC grew its position in MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after acquiring an additional 6 shares during the last quarter. Perigon Wealth Management LLC raised its stake in MercadoLibre by 0.7% during the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock worth $1,758,000 after acquiring an additional 7 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of MercadoLibre by 17.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock worth $78,000 after acquiring an additional 7 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 0.6 %

Shares of NASDAQ:MELI traded down $13.30 during mid-day trading on Friday, hitting $2,281.22. The company had a trading volume of 142,352 shares, compared to its average volume of 421,400. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,374.54. The firm has a fifty day moving average price of $2,059.26 and a 200 day moving average price of $1,972.15. The company has a market capitalization of $115.65 billion, a PE ratio of 60.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and upped their price target for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,464.67.

MercadoLibre 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.