49 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by Atticus Wealth Management LLC

Atticus Wealth Management LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, Holdings Channel.com reports. The fund purchased 49 shares of the company’s stock, valued at approximately $96,000.

A number of other hedge funds also recently modified their holdings of the stock. Park Square Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter valued at $26,000. Covestor Ltd bought a new stake in MercadoLibre during the 4th quarter valued at $27,000. Heck Capital Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $32,000. VSM Wealth Advisory LLC bought a new stake in MercadoLibre during the 4th quarter valued at $37,000. Finally, Banque Transatlantique SA bought a new stake in MercadoLibre during the 4th quarter valued at $41,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MELI shares. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Finally, Citigroup reaffirmed a “buy” rating on shares of MercadoLibre in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,632.50.

MercadoLibre Trading Up 0.0%

MercadoLibre stock opened at $2,403.81 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,563.21 and a fifty-two week high of $2,635.88. The firm’s fifty day moving average price is $2,387.65 and its 200-day moving average price is $2,089.54. The stock has a market cap of $121.87 billion, a P/E ratio of 59.12, a PEG ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the business earned $6.78 earnings per share. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.