Alpine Bank Wealth Management Invests $176,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Alpine Bank Wealth Management bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 90 shares of the company’s stock, valued at approximately $176,000.

Several other hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised 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 valued at $2,328,000 after buying an additional 143 shares during the last quarter. Prospect Financial Services LLC grew its stake in MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after acquiring an additional 100 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in MercadoLibre by 34.1% in the 4th quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company’s stock valued at $5,957,000 after acquiring an additional 891 shares during the last quarter. JARISLOWSKY FRASER Ltd lifted its stake in MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock worth $5,525,000 after purchasing an additional 987 shares in the last quarter. Finally, Avant Financial Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $316,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.5%

Shares of NASDAQ:MELI opened at $2,540.50 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The business has a 50 day simple moving average of $2,413.70 and a two-hundred day simple moving average of $2,099.89. MercadoLibre, Inc. has a 1 year low of $1,563.21 and a 1 year high of $2,635.88. The firm has a market capitalization of $128.80 billion, a PE ratio of 62.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the previous year, the business earned $6.78 EPS. MercadoLibre’s revenue was up 37.0% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

MELI has been the topic of several research reports. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. One investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,632.50.

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.