Clean Yield Group Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Clean Yield Group bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 1st quarter, Holdings Channel reports. The fund bought 60 shares of the company’s stock, valued at approximately $118,000.

A number of other hedge funds also recently made changes to their positions in MELI. Gateway Investment Advisers LLC increased its stake in MercadoLibre by 2.4% in the 1st quarter. Gateway Investment Advisers LLC now owns 2,892 shares of the company’s stock worth $5,642,000 after acquiring an additional 67 shares during the last quarter. Seneca House Advisors boosted its position in shares of MercadoLibre by 3.3% during the 1st quarter. Seneca House Advisors now owns 247 shares of the company’s stock valued at $482,000 after acquiring an additional 8 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of MercadoLibre by 9.8% during the 1st quarter. Independence Bank of Kentucky now owns 168 shares of the company’s stock valued at $328,000 after acquiring an additional 15 shares during the last quarter. First Affirmative Financial Network grew its holdings in shares of MercadoLibre by 11.6% in the first quarter. First Affirmative Financial Network now owns 135 shares of the company’s stock valued at $263,000 after purchasing an additional 14 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in MercadoLibre in the first quarter worth $554,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MELI. Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. UBS Group set a $3,000.00 price target on MercadoLibre in a research report on Monday, June 2nd. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Finally, Barclays raised their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,613.75.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,482.39 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market cap of $125.85 billion, a price-to-earnings ratio of 65.85, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The firm has a 50-day moving average of $2,288.33 and a two-hundred day moving average of $2,062.44. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. MercadoLibre’s quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.78 earnings per share. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.