MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 12.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,987 shares of the company’s stock after buying an additional 213 shares during the period. Park Avenue Securities LLC’s holdings in MercadoLibre were worth $3,876,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its stake in shares of MercadoLibre by 11.7% during the fourth 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. Vaughan Nelson Investment Management L.P. acquired a new stake in MercadoLibre in the fourth quarter worth approximately $2,619,000. Jones Financial Companies Lllp boosted its stake in MercadoLibre by 34.1% during the 4th quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company’s stock valued at $5,957,000 after purchasing an additional 891 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of MercadoLibre by 47.3% during the 4th quarter. Apollon Wealth Management LLC now owns 629 shares of the company’s stock valued at $1,070,000 after purchasing an additional 202 shares during the period. Finally, JARISLOWSKY FRASER Ltd raised its stake in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock worth $5,525,000 after buying an additional 987 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MELI shares. Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. Susquehanna increased their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Barclays lifted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group increased their price objective 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, three have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,613.75.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,448.60 on Tuesday. The business’s 50-day simple moving average is $2,298.62 and its 200-day simple moving average is $2,066.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The firm has a market cap of $124.14 billion, a price-to-earnings ratio of 64.95, a P/E/G ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS 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 for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the company posted $6.78 earnings per share. The company’s revenue for the quarter was up 37.0% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.