Kovack Advisors Inc. Has $3 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Kovack Advisors Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,912 shares of the company’s stock after purchasing an additional 165 shares during the quarter. Kovack Advisors Inc.’s holdings in MercadoLibre were worth $3,004,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Morgan Stanley lifted its stake in MercadoLibre by 10.2% in the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after buying an additional 236,744 shares in the last quarter. Jennison Associates LLC lifted its stake in MercadoLibre by 1.3% in the third quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock valued at $2,831,721,000 after buying an additional 28,095 shares in the last quarter. WCM Investment Management LLC lifted its stake in MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares in the last quarter. William Blair Investment Management LLC lifted its stake in MercadoLibre by 6.1% in the third quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock valued at $521,492,000 after buying an additional 23,699 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in MercadoLibre by 10.2% in the third quarter. Invesco Ltd. now owns 365,176 shares of the company’s stock valued at $462,999,000 after buying an additional 33,801 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $42.17 on Friday, hitting $1,406.00. The company had a trading volume of 443,255 shares, compared to its average volume of 384,968. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The stock has a market cap of $71.28 billion, a price-to-earnings ratio of 71.96, a P/E/G ratio of 0.91 and a beta of 1.44. The stock has a 50 day moving average price of $1,523.37 and a 200 day moving average price of $1,528.68. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the firm earned $3.25 earnings per share. MercadoLibre’s revenue for the quarter was up 42.0% on a year-over-year basis. Analysts expect that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on MELI shares. Citigroup cut their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Susquehanna boosted their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Barclays cut their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Wedbush cut their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,790.36.

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.