Premier Fund Managers Ltd Has $9.07 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Premier Fund Managers Ltd decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 38.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,424 shares of the company’s stock after selling 2,751 shares during the period. Premier Fund Managers Ltd’s holdings in MercadoLibre were worth $9,065,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospect Financial Services LLC grew its stake in MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after buying an additional 100 shares during the last quarter. Stratos Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter valued at $203,000. JARISLOWSKY FRASER Ltd grew its stake in MercadoLibre by 43.6% in the 4th 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 during the last quarter. Avant Financial Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at $316,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new position in MercadoLibre in the 4th quarter valued at $2,500,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MELI shares. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a report on Monday, June 2nd. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,690.29.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,354.11 on Tuesday. The company has a 50-day moving average of $2,471.41 and a 200-day moving average of $2,212.78. The company has a market capitalization of $119.35 billion, a price-to-earnings ratio of 57.90, a PEG ratio of 1.40 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. 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 (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the firm posted $6.78 EPS. The firm’s quarterly revenue was up 37.0% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

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.