Sunbelt Securities Inc. Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sunbelt Securities Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Sunbelt Securities Inc.’s holdings in MercadoLibre were worth $362,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after acquiring an additional 143 shares during the period. Ninety One North America Inc. purchased a new position in MercadoLibre during the 4th quarter valued at $4,923,000. Paragon Capital Management Inc. boosted its holdings in MercadoLibre by 58.5% during the 4th quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company’s stock valued at $2,784,000 after acquiring an additional 604 shares during the period. Vinland Capital Management Gestora de Recursos LTDA. purchased a new position in MercadoLibre during the 4th quarter valued at $63,613,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in MercadoLibre during the 4th quarter valued at $2,619,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 3.8%

MELI opened at $2,507.83 on Monday. The firm has a market cap of $127.14 billion, a price-to-earnings ratio of 66.52, a PEG ratio of 1.12 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,635.88. The stock has a fifty day moving average price of $2,190.01 and a 200-day moving average price of $2,018.86.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate 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%. The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.78 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald decreased their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. Bank of America lifted their target price 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. Finally, The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,572.86.

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.