Benchmark Investment Advisors LLC Acquires New Holdings in MercadoLibre, Inc. $MELI

Benchmark Investment Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELIFree Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 973 shares of the company’s stock, valued at approximately $2,229,000. MercadoLibre makes up about 1.3% of Benchmark Investment Advisors LLC’s portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Highview Capital Management LLC DE acquired a new position in MercadoLibre in the 2nd quarter valued at $559,000. Weitz Investment Management Inc. acquired a new stake in shares of MercadoLibre during the 3rd quarter worth $8,647,000. Barlow Wealth Partners Inc. increased its position in shares of MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of MercadoLibre by 14.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock worth $202,610,000 after purchasing an additional 10,849 shares during the period. Finally, Principal Financial Group Inc. raised its stake in MercadoLibre by 18.7% in the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,670.00 on Friday. The business has a 50-day moving average price of $1,996.22 and a two-hundred day moving average price of $2,119.50. MercadoLibre, Inc. has a 1-year low of $1,631.18 and a 1-year high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market cap of $84.67 billion, a P/E ratio of 42.39, a PEG ratio of 0.90 and a beta of 1.48.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same period last year, the company earned $12.61 EPS. MercadoLibre’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Cantor Fitzgerald cut their target price on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. UBS Group decreased their price target on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Morgan Stanley lowered their price target on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a report on Monday, March 9th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,725.33.

Read Our Latest Analysis on MercadoLibre

MercadoLibre Company Profile

(Free Report)

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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