Advisory Resource Group Trims Position in MercadoLibre, Inc. (NASDAQ:MELI)

Advisory Resource Group lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588 shares of the company’s stock after selling 13 shares during the period. Advisory Resource Group’s holdings in MercadoLibre were worth $1,147,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MELI. 1620 Investment Advisors Inc. raised its stake in MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after purchasing an additional 5 shares during the period. Texas Yale Capital Corp. increased its position in MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after acquiring an additional 5 shares during the period. Formidable Asset Management LLC grew its position in shares of MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after acquiring an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MELI shares. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Citigroup restated a “buy” rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Finally, Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,632.50.

MercadoLibre Stock Up 0.6%

Shares of MercadoLibre stock opened at $2,402.75 on Thursday. MercadoLibre, Inc. has a 12 month low of $1,563.21 and a 12 month high of $2,635.88. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $2,370.14 and a 200 day simple moving average of $2,082.46. The stock has a market cap of $121.82 billion, a PE ratio of 59.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the prior year, the business posted $6.78 EPS. The business’s revenue was up 37.0% compared to the same quarter last year. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.