First Allied Advisory Services Inc. boosted its holdings in Mercadolibre Inc (NASDAQ:MELI) by 2.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 982 shares of the company’s stock after acquiring an additional 24 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Mercadolibre were worth $512,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in MELI. Shine Investment Advisory Services Inc. acquired a new stake in Mercadolibre in the first quarter valued at about $34,000. Carroll Financial Associates Inc. boosted its stake in Mercadolibre by 59.5% in the first quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock valued at $34,000 after buying an additional 25 shares in the last quarter. Capital Investment Advisory Services LLC boosted its stake in Mercadolibre by 76.4% in the first quarter. Capital Investment Advisory Services LLC now owns 97 shares of the company’s stock valued at $49,000 after buying an additional 42 shares in the last quarter. We Are One Seven LLC acquired a new stake in Mercadolibre in the fourth quarter valued at about $51,000. Finally, Larson Financial Group LLC bought a new position in Mercadolibre in the fourth quarter valued at about $59,000. 81.58% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Emiliano Calemzuk acquired 120 shares of the stock in a transaction dated Saturday, March 9th. The stock was bought at an average cost of $414.14 per share, for a total transaction of $49,696.80. Following the completion of the transaction, the director now directly owns 2,669 shares of the company’s stock, valued at $1,105,339.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by company insiders.
Shares of MELI opened at $572.95 on Wednesday. Mercadolibre Inc has a 1 year low of $257.52 and a 1 year high of $596.70. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.34. The stock has a market cap of $28.34 billion, a PE ratio of -698.72 and a beta of 2.14.
Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The company had revenue of $474.00 million during the quarter, compared to the consensus estimate of $423.19 million. During the same period last year, the company earned ($0.29) earnings per share. The firm’s revenue was up 47.7% compared to the same quarter last year. On average, research analysts anticipate that Mercadolibre Inc will post 0.91 EPS for the current fiscal year.
MELI has been the subject of several research reports. Credit Suisse Group increased their target price on Mercadolibre from $398.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Barclays reiterated a “buy” rating and issued a $445.00 target price on shares of Mercadolibre in a research report on Thursday, February 28th. BidaskClub upgraded Mercadolibre from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. Bank of America reiterated a “buy” rating and issued a $600.00 target price on shares of Mercadolibre in a research report on Wednesday, April 3rd. Finally, BBA Icatu Securities downgraded Mercadolibre from an “outperform” rating to an “underperform” rating and increased their target price for the company from $400.00 to $520.00 in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $481.07.
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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