MercadoLibre, Inc. (NASDAQ:MELI) Stake Cut by First Heartland Consultants Inc.

First Heartland Consultants Inc. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 19.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 324 shares of the company’s stock after selling 78 shares during the period. First Heartland Consultants Inc.’s holdings in MercadoLibre were worth $634,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Zweig DiMenna Associates LLC acquired a new position in MercadoLibre in the 1st quarter worth about $9,247,000. Stevens Capital Management LP acquired a new position in MercadoLibre in the 1st quarter worth about $347,000. Prescott Group Capital Management L.L.C. acquired a new position in MercadoLibre in the 1st quarter worth about $269,000. Equitable Trust Co. increased its position in MercadoLibre by 3.2% in the 1st quarter. Equitable Trust Co. now owns 1,406 shares of the company’s stock worth $2,743,000 after purchasing an additional 44 shares during the last quarter. Finally, Caliber Wealth Management LLC KS acquired a new position in MercadoLibre in the 1st quarter worth about $1,769,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MELI opened at $2,362.56 on Friday. The firm has a market capitalization of $119.78 billion, a P/E ratio of 58.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The stock’s 50 day moving average price is $2,475.90 and its two-hundred day moving average price is $2,202.14. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 12-month low of $1,579.78 and a 12-month high of $2,645.22.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,639.69.

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.