Silvercrest Asset Management Group LLC Has $11.87 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Silvercrest Asset Management Group LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,853 shares of the company’s stock after selling 164 shares during the period. Silvercrest Asset Management Group LLC’s holdings in MercadoLibre were worth $11,873,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. raised its stake in MercadoLibre by 56.3% during the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after acquiring an additional 9 shares in the last quarter. Caprock Group LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $223,000. State of Alaska Department of Revenue lifted its stake in MercadoLibre by 27.9% in the 4th quarter. State of Alaska Department of Revenue now owns 1,650 shares of the company’s stock valued at $2,593,000 after purchasing an additional 360 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its position in MercadoLibre by 10.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 490 shares of the company’s stock valued at $770,000 after buying an additional 45 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth $228,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.3 %

MELI opened at $1,626.15 on Wednesday. The company has a fifty day moving average of $1,648.75 and a 200-day moving average of $1,619.63. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $1,825.00. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The stock has a market cap of $82.45 billion, a PE ratio of 72.76, a price-to-earnings-growth ratio of 1.20 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last issued 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 business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.97 earnings per share. On average, sell-side analysts predict that MercadoLibre, Inc. will post 33.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price target for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Barclays upped their price objective on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. UBS Group cut their target price on shares of 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, New Street Research cut 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, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,922.08.

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.