Gradient Investments LLC Has $42,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Gradient Investments LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 99.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27 shares of the company’s stock after selling 2,799 shares during the period. Gradient Investments LLC’s holdings in MercadoLibre were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Salem Investment Counselors Inc. lifted its stake in MercadoLibre by 500.0% during the third quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock worth $30,000 after purchasing an additional 20 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of MercadoLibre during the third quarter valued at approximately $32,000. Castleview Partners LLC increased its position in MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock worth $32,000 after purchasing an additional 10 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of MercadoLibre in the third quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of MercadoLibre during the third quarter worth about $36,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 0.7 %

MELI stock opened at $1,511.96 on Monday. The company has a 50-day moving average of $1,646.75 and a two-hundred day moving average of $1,509.84. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The stock has a market capitalization of $76.66 billion, a price-to-earnings ratio of 77.38, a price-to-earnings-growth ratio of 0.99 and a beta of 1.45. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the company posted $3.25 earnings per share. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 36.06 EPS for the current year.

Analyst Ratings Changes

MELI has been the subject of a number of recent analyst reports. Barclays raised their price objective on MercadoLibre from $1,900.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a research report on Tuesday, March 5th. Susquehanna boosted their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,821.54.

View Our Latest Stock Analysis on MercadoLibre

MercadoLibre Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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