SeaCrest Wealth Management LLC Acquires New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

SeaCrest Wealth Management LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 284 shares of the company’s stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. lifted its holdings in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after buying an additional 5 shares during the period. Texas Yale Capital Corp. lifted its holdings in shares of MercadoLibre by 0.3% during the 4th 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 during the period. Meiji Yasuda Life Insurance Co lifted its holdings in shares of MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC lifted its holdings in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after buying an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after buying an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 3.8%

Shares of MELI stock opened at $2,482.39 on Friday. MercadoLibre, Inc. has a 52-week low of $1,550.00 and a 52-week high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $125.85 billion, a PE ratio of 65.85, a PEG ratio of 1.12 and a beta of 1.51. The stock has a fifty day simple moving average of $2,288.33 and a two-hundred day simple moving average of $2,062.44.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Barclays increased their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Finally, Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,613.75.

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.