Flagship Harbor Advisors LLC Has $1.56 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Flagship Harbor Advisors LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 799 shares of the company’s stock after buying an additional 170 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in MercadoLibre were worth $1,559,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its position in shares of MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares during the period. Prospect Financial Services LLC lifted its holdings in shares of MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after purchasing an additional 100 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of 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. JARISLOWSKY FRASER Ltd lifted its holdings in shares of MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock valued at $5,525,000 after purchasing an additional 987 shares in the last quarter. Finally, Avant Financial Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $316,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 2.0%

Shares of MercadoLibre stock opened at $2,452.89 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,563.21 and a 12-month high of $2,635.88. The stock has a market cap of $124.36 billion, a P/E ratio of 60.33, a P/E/G ratio of 1.34 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $2,395.97 and its 200-day moving average is $2,093.81.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the prior year, the business posted $6.78 EPS. The business’s revenue was up 37.0% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MELI shares. Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. The Goldman Sachs Group upped their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Benchmark downgraded MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.