MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,482 shares of the company’s stock after purchasing an additional 396 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in MercadoLibre were worth $3,753,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wealthspire Advisors LLC grew its holdings in MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after buying an additional 7 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after acquiring an additional 7 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in MercadoLibre by 6.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after purchasing an additional 8 shares during the last quarter. Vestor Capital LLC lifted its holdings in MercadoLibre by 10.0% in the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after purchasing an additional 8 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of MercadoLibre by 56.3% during the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after purchasing an additional 9 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent analyst reports. Barclays upped their price objective on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research report on Tuesday, April 23rd. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and increased their target price for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Citigroup lowered their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, Wedbush reiterated an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Stock Down 0.1 %

Shares of MercadoLibre stock opened at $1,596.48 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The stock has a market cap of $80.94 billion, a price-to-earnings ratio of 71.77, a price-to-earnings-growth ratio of 1.20 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $1,621.34 and a 200 day moving average price of $1,607.20.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company’s revenue was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.97 earnings per share. Equities research analysts forecast that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

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.