Valley National Advisers Inc. Has $1.54 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Valley National Advisers Inc. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 787 shares of the company’s stock after selling 11 shares during the quarter. Valley National Advisers Inc.’s holdings in MercadoLibre were worth $1,535,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MELI. Oppenheimer & Co. Inc. boosted its stake in MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after buying an additional 143 shares in the last quarter. Prospect Financial Services LLC boosted its stake in MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in MercadoLibre by 34.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company’s stock valued at $5,957,000 after buying an additional 891 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its stake in MercadoLibre by 43.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock valued at $5,525,000 after buying an additional 987 shares in the last quarter. Finally, Avant Financial Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at about $316,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the topic of a number of recent research reports. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. Citigroup reissued a “buy” rating on shares of MercadoLibre in a research note on Friday, June 6th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,645.94.

MercadoLibre Trading Down 0.0%

Shares of MELI stock opened at $2,560.05 on Monday. The company has a market cap of $129.79 billion, a P/E ratio of 62.96, a PEG ratio of 1.52 and a beta of 1.51. The stock has a 50 day simple moving average of $2,432.13 and a two-hundred day simple moving average of $2,112.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a fifty-two week low of $1,563.21 and a fifty-two week high of $2,635.88.

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

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.