WBI Investments LLC Acquires Shares of 138 MercadoLibre, Inc. (NASDAQ:MELI)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. The Manufacturers Life Insurance Company lifted its position in shares of MercadoLibre by 1.0% in the third quarter. The Manufacturers Life Insurance Company now owns 24,061 shares of the company’s stock valued at $30,512,000 after acquiring an additional 232 shares in the last quarter. Townsquare Capital LLC increased its position in shares of MercadoLibre by 0.9% in the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after acquiring an additional 14 shares in the last quarter. Moneta Group Investment Advisors LLC purchased a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $213,000. Banque Pictet & Cie SA bought a new stake in shares of MercadoLibre in the 3rd quarter worth about $316,000. Finally, 2Xideas AG lifted its holdings in MercadoLibre by 1.3% during the 3rd quarter. 2Xideas AG now owns 8,975 shares of the company’s stock worth $11,379,000 after buying an additional 116 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.0 %

Shares of NASDAQ:MELI traded up $0.54 during mid-day trading on Thursday, hitting $1,704.09. 200,095 shares of the company traded hands, compared to its average volume of 371,800. MercadoLibre, Inc. has a 12-month low of $1,126.84 and a 12-month high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The stock has a market cap of $86.40 billion, a P/E ratio of 77.16, a P/E/G ratio of 1.23 and a beta of 1.60. The stock has a 50-day moving average price of $1,654.53 and a two-hundred day moving average price of $1,609.29.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for 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 company’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.97 earnings per share. On average, equities research analysts forecast that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MELI. UBS Group lowered their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Wedbush restated an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a research note on Friday, May 3rd. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their price target for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Citigroup dropped their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price 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.