Premier Path Wealth Partners LLC Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Premier Path Wealth Partners LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 221 shares of the company’s stock after purchasing an additional 21 shares during the period. Premier Path Wealth Partners LLC’s holdings in MercadoLibre were worth $337,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in MercadoLibre by 309.7% in the 3rd quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $161,000 after buying an additional 96 shares during the last quarter. M&T Bank Corp increased its stake in shares of MercadoLibre by 231.0% during the third quarter. M&T Bank Corp now owns 3,247 shares of the company’s stock worth $4,117,000 after acquiring an additional 2,266 shares during the period. Banque Pictet & Cie SA purchased a new position in MercadoLibre during the third quarter worth about $316,000. FDx Advisors Inc. lifted its position in MercadoLibre by 25.4% in the third quarter. FDx Advisors Inc. now owns 617 shares of the company’s stock valued at $782,000 after purchasing an additional 125 shares during the period. Finally, Pittenger & Anderson Inc. boosted its holdings in MercadoLibre by 30.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 1,601 shares of the company’s stock valued at $2,030,000 after purchasing an additional 377 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ:MELI traded down $15.66 during trading hours on Tuesday, reaching $1,772.07. 278,496 shares of the company traded hands, compared to its average volume of 397,477. 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 $89.84 billion, a P/E ratio of 79.29, a P/E/G ratio of 1.18 and a beta of 1.45. The firm’s 50-day moving average is $1,535.76 and its 200-day moving average is $1,582.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELIGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.97 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 33.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MELI shares. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1,400.00 to $2,100.00 in a research report on Monday. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a report on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a research note on Friday, May 3rd. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,881.92.

View Our Latest Analysis on MercadoLibre

About MercadoLibre

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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