Shelton Wealth Management LLC Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Shelton Wealth Management LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 860 shares of the company’s stock after acquiring an additional 9 shares during the quarter. MercadoLibre makes up about 0.9% of Shelton Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. Shelton Wealth Management LLC’s holdings in MercadoLibre were worth $1,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its position in MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after buying an additional 179,807 shares in the last quarter. Capital International Investors raised its position in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares during the period. Capital World Investors raised its position in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after purchasing an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD raised its position in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in MercadoLibre by 0.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after purchasing an additional 2,048 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.6%

Shares of NASDAQ MELI opened at $2,402.75 on Friday. MercadoLibre, Inc. has a twelve month low of $1,563.21 and a twelve month high of $2,635.88. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $2,379.52 and a 200-day simple moving average of $2,085.56. The stock has a market capitalization of $121.82 billion, a PE ratio of 59.09, a PEG ratio of 1.34 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the firm posted $6.78 earnings per share. The company’s revenue was up 37.0% on a year-over-year basis. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on MELI. Citigroup restated a “buy” rating on shares of MercadoLibre in a research report on Friday, June 6th. 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. Barclays lifted their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. Finally, Benchmark downgraded MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,632.50.

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.