Snowden Capital Advisors LLC Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Snowden Capital Advisors LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 906 shares of the company’s stock after acquiring an additional 46 shares during the period. Snowden Capital Advisors LLC’s holdings in MercadoLibre were worth $1,541,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Human Investing LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. grew its stake in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in MercadoLibre in the 4th quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.1%

Shares of MELI opened at $2,584.92 on Friday. The stock has a market capitalization of $131.05 billion, a P/E ratio of 68.57, a PEG ratio of 1.12 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $2,135.04 and a two-hundred day simple moving average of $1,999.73. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,610.30.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on MELI shares. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. Barclays upped their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,521.33.

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.