Acorn Financial Advisory Services Inc. ADV Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Acorn Financial Advisory Services Inc. ADV decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 213 shares of the company’s stock after selling 6 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in MercadoLibre were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Human Investing LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its position in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. raised its holdings in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the period. Covestor Ltd purchased a new position in MercadoLibre during the fourth quarter worth $27,000. Finally, Heck Capital Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at $32,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MELI. Raymond James raised 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 research note on Tuesday, January 21st. Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday. Finally, Barclays boosted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. One investment 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 stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,464.67.

MercadoLibre Stock Down 1.6 %

NASDAQ:MELI opened at $2,294.52 on Friday. The company’s 50 day moving average is $2,059.26 and its two-hundred day moving average is $1,972.15. The company has a market cap of $116.33 billion, a PE ratio of 60.86, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a twelve month low of $1,444.10 and a twelve month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.