Nkcfo LLC Acquires 1,105 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nkcfo LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1,105.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,205 shares of the company’s stock after acquiring an additional 1,105 shares during the period. MercadoLibre makes up about 1.1% of Nkcfo LLC’s holdings, making the stock its 27th largest holding. Nkcfo LLC’s holdings in MercadoLibre were worth $2,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Key Financial Inc bought a new position in MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Covestor Ltd bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $27,000. Finally, Close Asset Management Ltd grew its holdings in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,362.56 on Monday. 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’s fifty day moving average is $2,475.90 and its two-hundred day moving average is $2,208.61. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The company has a market capitalization of $119.78 billion, a PE ratio of 58.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.49.

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 net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the prior year, the business posted $6.78 earnings per share. The business’s revenue for the quarter was up 37.0% on a year-over-year basis. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. Citigroup restated a “buy” rating on shares of MercadoLibre in a research report on Friday, June 6th. 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 given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,639.69.

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.