Goldstein Advisors LLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Goldstein Advisors LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 43.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 184 shares of the company’s stock after acquiring an additional 56 shares during the quarter. Goldstein Advisors LLC’s holdings in MercadoLibre were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MELI. Capital International Investors boosted its position in shares of MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after buying an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 worth $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in MercadoLibre in the fourth quarter worth about $565,306,000. Capital World Investors boosted 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 worth $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Finally, Norges Bank purchased a new position in MercadoLibre in the fourth quarter worth about $383,051,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.5%

MELI stock opened at $2,540.50 on Thursday. MercadoLibre, Inc. has a twelve month low of $1,563.21 and a twelve month 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 P/E ratio of 62.48, a PEG ratio of 1.50 and a beta of 1.51. The business’s 50-day moving average price is $2,413.70 and its 200-day moving average price is $2,099.89.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 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 period in the previous year, the firm earned $6.78 EPS. The firm’s revenue was up 37.0% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MELI shares. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price 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. UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. Barclays raised their target price on 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 raised their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus 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.