Meridian Wealth Management LLC purchased a new position in shares of Mercadolibre Inc (NASDAQ:MELI) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 173 shares of the company’s stock, valued at approximately $88,000.
Several other institutional investors and hedge funds have also bought and sold shares of MELI. Virtu Financial LLC acquired a new position in Mercadolibre during the first quarter valued at approximately $3,985,000. Raymond James Financial Services Advisors Inc. grew its holdings in Mercadolibre by 21.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the company’s stock valued at $1,504,000 after purchasing an additional 526 shares during the period. LPL Financial LLC grew its holdings in Mercadolibre by 4.6% during the fourth quarter. LPL Financial LLC now owns 7,485 shares of the company’s stock valued at $2,192,000 after purchasing an additional 328 shares during the period. Hudson Bay Capital Management LP acquired a new position in Mercadolibre during the fourth quarter valued at approximately $3,221,000. Finally, National Pension Service grew its holdings in Mercadolibre by 4.7% during the fourth quarter. National Pension Service now owns 54,721 shares of the company’s stock valued at $19,691,000 after purchasing an additional 2,452 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.
MELI has been the subject of a number of analyst reports. HSBC cut shares of Mercadolibre from a “buy” rating to a “hold” rating and set a $512.99 price objective for the company. in a report on Wednesday, April 10th. Deutsche Bank set a €35.00 ($40.70) price objective on shares of Deutsche Post and gave the company a “buy” rating in a report on Friday, May 3rd. Stifel Nicolaus set a $95.00 price target on shares of C.H. Robinson Worldwide and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. set a €54.00 ($62.79) price target on shares of Axel Springer and gave the company a “neutral” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Mercadolibre has a consensus rating of “Hold” and an average price target of $516.50.
NASDAQ MELI traded up $0.96 on Thursday, hitting $634.29. 467,700 shares of the stock were exchanged, compared to its average volume of 616,980. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.82 and a quick ratio of 2.82. The business has a fifty day simple moving average of $609.32. Mercadolibre Inc has a 52 week low of $257.52 and a 52 week high of $672.55. The stock has a market capitalization of $31.98 billion, a P/E ratio of -773.52 and a beta of 1.78.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. The firm had revenue of $474.00 million for the quarter, compared to analyst estimates of $423.19 million. Mercadolibre had a negative net margin of 0.74% and a negative return on equity of 1.55%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.29) earnings per share. On average, equities analysts expect that Mercadolibre Inc will post 1.16 EPS for the current fiscal year.
Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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