Alpha Omega Wealth Management LLC Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Alpha Omega Wealth Management LLC trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 13.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 249 shares of the company’s stock after selling 38 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in MercadoLibre were worth $376,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $28,000. First PREMIER Bank acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $27,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC acquired a new stake in MercadoLibre during the fourth quarter worth $36,000. Finally, DSM Capital Partners LLC acquired a new stake in MercadoLibre during the fourth quarter worth $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 1.1 %

NASDAQ MELI traded down $17.49 on Friday, hitting $1,643.40. 249,707 shares of the stock were exchanged, compared to its average volume of 280,272. 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, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company’s 50-day moving average price is $1,616.76 and its two-hundred day moving average price is $1,607.27. The company has a market capitalization of $83.32 billion, a price-to-earnings ratio of 73.53, a P/E/G ratio of 1.21 and a beta of 1.60.

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

Wall Street Analysts Forecast Growth

MELI has been the subject of several research analyst reports. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research report on Tuesday, April 23rd. UBS Group reduced their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Barclays boosted their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Finally, New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

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.