HB Wealth Management LLC Buys 51 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

HB Wealth Management LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 28.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231 shares of the company’s stock after purchasing an additional 51 shares during the quarter. HB Wealth Management LLC’s holdings in MercadoLibre were worth $349,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC grew its stake in shares of MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after acquiring an additional 497,535 shares in the last quarter. Norges Bank acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $554,386,000. Morgan Stanley grew its stake in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after buying an additional 236,744 shares in the last quarter. International Assets Investment Management LLC grew its stake in MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after buying an additional 146,034 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in MercadoLibre by 1,432.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after buying an additional 119,043 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 4.1 %

NASDAQ MELI traded up $65.28 during trading hours on Friday, reaching $1,656.72. The company’s stock had a trading volume of 177,515 shares, compared to its average volume of 373,273. The firm has a fifty day simple moving average of $1,634.35 and a 200-day simple moving average of $1,606.91. The stock has a market cap of $84.00 billion, a P/E ratio of 73.13, a P/E/G ratio of 1.16 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter last year, the business earned $3.97 EPS. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Barclays raised their price target on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

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.