Salem Investment Counselors Inc. Boosts Stock Holdings in MercadoLibre, Inc. $MELI

Salem Investment Counselors Inc. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,399 shares of the company’s stock after purchasing an additional 311 shares during the quarter. Salem Investment Counselors Inc.’s holdings in MercadoLibre were worth $4,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Bison Wealth LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $206,000. Empowered Funds LLC raised its stake in MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after buying an additional 49 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after buying an additional 178 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of MercadoLibre in the second quarter worth $261,000. Finally, MAI Capital Management increased its position in MercadoLibre by 24.3% during the second quarter. MAI Capital Management now owns 169 shares of the company’s stock valued at $443,000 after acquiring an additional 33 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,666.08 on Tuesday. The stock has a 50-day moving average price of $1,938.48 and a 200 day moving average price of $2,083.94. The stock has a market capitalization of $84.47 billion, a P/E ratio of 42.29, a P/E/G ratio of 0.80 and a beta of 1.48. MercadoLibre, Inc. has a 12-month low of $1,631.18 and a 12-month 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.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 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 business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the prior year, the firm posted $12.61 earnings per share. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research reports. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Barclays reduced their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Monday, March 9th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Finally, BTIG Research reduced their target price on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,708.67.

MercadoLibre Company Profile

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.