Alpine Bank Wealth Management Invests $176,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Alpine Bank Wealth Management purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, Holdings Channel reports. The fund purchased 90 shares of the company’s stock, valued at approximately $176,000.

A number of other large investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. increased its position in MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after purchasing an additional 5 shares during the period. Texas Yale Capital Corp. increased its holdings in MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock valued at $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co increased its holdings in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC raised its stake 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 in the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in MercadoLibre by 4.4% during 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 period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,540.50 on Thursday. MercadoLibre, Inc. has a 52-week low of $1,563.21 and a 52-week high of $2,635.88. 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 stock has a market cap of $128.80 billion, a PE ratio of 62.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.51. The business has a 50-day simple moving average of $2,413.70 and a 200-day simple moving average of $2,099.89.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results 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 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same period last year, the business earned $6.78 earnings per share. MercadoLibre’s quarterly revenue was up 37.0% on a year-over-year basis. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup restated a “buy” rating on shares of MercadoLibre in a research note on Friday, June 6th. Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research report 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. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,632.50.

MercadoLibre Company 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.