WBI Investments LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

WBI Investments LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 138 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wealthspire Advisors LLC boosted its stake in shares of MercadoLibre by 1.8% in the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after purchasing an additional 7 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of MercadoLibre by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after buying an additional 7 shares during the period. Contravisory Investment Management Inc. lifted its stake in shares of MercadoLibre by 6.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after acquiring an additional 8 shares during the last quarter. Vestor Capital LLC boosted its holdings in MercadoLibre by 10.0% during the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after acquiring an additional 8 shares during the period. Finally, Blue Trust Inc. grew its position in MercadoLibre by 56.3% during the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after acquiring an additional 9 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI stock traded up $0.54 on Thursday, reaching $1,704.09. The company’s stock had a trading volume of 200,095 shares, compared to its average volume of 371,800. The stock’s fifty day simple moving average is $1,654.53 and its 200-day simple moving average is $1,609.29. MercadoLibre, Inc. has a 1 year low of $1,126.84 and a 1 year high of $1,825.00. The company has a market capitalization of $86.40 billion, a price-to-earnings ratio of 77.16, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on MELI shares. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Barclays upped their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. UBS Group dropped their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,922.08.

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.