Diversify Advisory Services LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Diversify Advisory Services LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 982 shares of the company’s stock, valued at approximately $1,501,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth $28,000. First PREMIER Bank bought a new stake in MercadoLibre during the 1st quarter valued at approximately $27,000. Archer Investment Corp acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $31,000. Larson Financial Group LLC bought a new position in MercadoLibre in the 4th quarter worth approximately $36,000. Finally, DSM Capital Partners LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ:MELI traded up $67.52 during trading hours on Friday, reaching $1,658.96. The company had a trading volume of 354,495 shares, compared to its average volume of 237,347. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $1,639.41 and a two-hundred day moving average of $1,607.18. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The firm has a market capitalization of $84.11 billion, a PE ratio of 74.23, a PEG ratio of 1.16 and a beta of 1.60.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MELI shares. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Citigroup cut their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a research report on Tuesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,881.92.

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.