Crestwood Advisors Group LLC Takes $203,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Crestwood Advisors Group LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 99 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds also recently added to or reduced their stakes in the company. O Dell Group LLC grew its position in shares of MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after buying an additional 6 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC lifted its position in shares of MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC grew its stake in shares of MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after purchasing an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MELI. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Morgan Stanley increased their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday, October 2nd. Finally, Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,309.67.

MercadoLibre Price Performance

Shares of MELI opened at $1,774.05 on Friday. The firm has a market capitalization of $89.94 billion, a PE ratio of 64.08, a P/E/G ratio of 1.26 and a beta of 1.61. The stock’s 50 day moving average is $2,055.08 and its two-hundred day moving average is $1,819.36. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 earnings per share for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.25 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. Research analysts anticipate that MercadoLibre, Inc. will post 37.7 earnings per share for the current year.

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.