MercadoLibre, Inc. (NASDAQ:MELI) Position Increased by Merit Financial Group LLC

Merit Financial Group LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 757 shares of the company’s stock after purchasing an additional 54 shares during the period. Merit Financial Group LLC’s holdings in MercadoLibre were worth $1,477,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Oppenheimer & Co. Inc. grew its position in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after acquiring an additional 143 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of MercadoLibre during the fourth quarter worth about $2,619,000. Strategic Financial Concepts LLC grew its position in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after acquiring an additional 181,849 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in MercadoLibre by 34.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company’s stock worth $5,957,000 after purchasing an additional 891 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in MercadoLibre by 47.3% in the fourth quarter. Apollon Wealth Management LLC now owns 629 shares of the company’s stock worth $1,070,000 after purchasing an additional 202 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MELI shares. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Bank of America upped their price objective on shares of 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 upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Finally, Citigroup reissued a “buy” rating on shares of MercadoLibre in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,613.75.

MercadoLibre Price Performance

MELI stock opened at $2,482.39 on Friday. 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, Inc. has a one year low of $1,550.00 and a one year high of $2,635.88. The firm has a market capitalization of $125.85 billion, a PE ratio of 65.85, a P/E/G ratio of 1.12 and a beta of 1.51. The firm has a 50-day moving average of $2,288.33 and a two-hundred day moving average of $2,061.53.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm’s quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.78 EPS. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.