MercadoLibre, Inc. (NASDAQ:MELI) Position Boosted by Beacon Capital Management LLC

Beacon Capital Management LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 82.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62 shares of the company’s stock after buying an additional 28 shares during the quarter. Beacon Capital Management LLC’s holdings in MercadoLibre were worth $94,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MELI. First PREMIER Bank acquired a new stake in MercadoLibre in the first quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter worth approximately $28,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre during the 4th quarter valued at $31,000. Larson Financial Group LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at $36,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 4.1 %

NASDAQ MELI traded down $68.52 on Thursday, reaching $1,600.38. The company had a trading volume of 456,204 shares, compared to its average volume of 363,391. The firm has a market capitalization of $81.14 billion, a price-to-earnings ratio of 74.67, a price-to-earnings-growth ratio of 1.20 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $1,825.00. The company’s fifty day moving average is $1,647.39 and its 200-day moving average is $1,619.97.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping 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 company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the business posted $3.97 EPS. The company’s quarterly revenue was up 36.0% on a year-over-year basis. On average, research analysts forecast that MercadoLibre, Inc. will post 33.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MELI. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and increased their price objective for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Wedbush reiterated an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a research report on Friday, May 3rd. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research report on Tuesday, April 23rd. Finally, New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,936.82.

MercadoLibre Company 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.