Range Financial Group LLC Acquires 9 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Range Financial Group LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183 shares of the company’s stock after acquiring an additional 9 shares during the period. Range Financial Group LLC’s holdings in MercadoLibre were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MELI. 1620 Investment Advisors Inc. increased its position in MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after buying an additional 5 shares during the period. Texas Yale Capital Corp. increased its position in MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co increased its position in MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC increased its position in MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after buying an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC increased its position in MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after buying an additional 5 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,482.39 on Monday. The stock’s 50-day simple moving average is $2,288.33 and its 200 day simple moving average is $2,063.12. The firm has a market capitalization of $125.85 billion, a PE ratio of 65.85, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,635.88.

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

Analyst Ratings Changes

Several research analysts have weighed in on MELI shares. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Bank of America increased their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a report on Thursday. The Goldman Sachs Group increased their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Finally, Barclays increased their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.