Merit Financial Group LLC Has $1.48 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Merit Financial Group LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 757 shares of the company’s stock after purchasing an additional 54 shares during the period. Merit Financial Group LLC’s holdings in MercadoLibre were worth $1,477,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. increased its holdings in MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after buying an additional 5 shares during the last quarter. Texas Yale Capital Corp. increased its holdings 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 last quarter. Meiji Yasuda Life Insurance Co increased its holdings in MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after buying an additional 5 shares during the last quarter. Formidable Asset Management LLC increased its holdings in MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after buying an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MELI shares. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Friday, May 16th. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday. The Goldman Sachs Group increased their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Cantor Fitzgerald lowered their price target on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,613.75.

MercadoLibre Stock Down 3.8%

MELI opened at $2,482.39 on Friday. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,635.88. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $125.85 billion, a price-to-earnings ratio of 65.85, a P/E/G ratio of 1.12 and a beta of 1.51. The business has a 50 day moving average of $2,288.33 and a 200-day moving average of $2,061.53.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the prior year, the business earned $6.78 earnings per share. MercadoLibre’s revenue for the quarter was up 37.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.