Summit Financial LLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Summit Financial LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,924 shares of the company’s stock after buying an additional 436 shares during the quarter. Summit Financial LLC’s holdings in MercadoLibre were worth $3,023,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. Commonwealth Equity Services LLC boosted its holdings in shares of MercadoLibre by 1.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,111 shares of the company’s stock worth $9,017,000 after purchasing an additional 74 shares during the period. SVB Wealth LLC boosted its holdings in shares of MercadoLibre by 4.3% in the 3rd quarter. SVB Wealth LLC now owns 316 shares of the company’s stock worth $401,000 after purchasing an additional 13 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of MercadoLibre by 108.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,847 shares of the company’s stock worth $7,413,000 after purchasing an additional 3,038 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $375,000. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of MercadoLibre by 9.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,834 shares of the company’s stock worth $4,861,000 after purchasing an additional 335 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.2 %

MELI stock traded down $2.19 on Wednesday, hitting $1,456.51. 526,314 shares of the company’s stock were exchanged, compared to its average volume of 387,878. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The firm has a 50 day moving average price of $1,511.13 and a two-hundred day moving average price of $1,535.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The stock has a market cap of $73.85 billion, a P/E ratio of 75.03, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the firm earned $3.25 earnings per share. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 34.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MELI shares. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a report on Tuesday, April 23rd. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Susquehanna raised their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Barclays decreased their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Citigroup decreased their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

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.