RMR Wealth Builders Trims Position in MercadoLibre, Inc. (NASDAQ:MELI)

RMR Wealth Builders lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 16.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237 shares of the company’s stock after selling 48 shares during the period. RMR Wealth Builders’ holdings in MercadoLibre were worth $372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC grew its holdings in MercadoLibre by 40.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after acquiring an additional 149 shares in the last quarter. Barlow Wealth Partners Inc. bought a new position in MercadoLibre during the 4th quarter worth about $561,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in MercadoLibre by 10.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 408 shares of the company’s stock worth $641,000 after acquiring an additional 38 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in MercadoLibre by 119.5% during the 4th quarter. Apollon Wealth Management LLC now owns 439 shares of the company’s stock worth $690,000 after acquiring an additional 239 shares in the last quarter. Finally, Lincoln National Corp boosted its holdings in shares of MercadoLibre by 9.1% in the 4th quarter. Lincoln National Corp now owns 265 shares of the company’s stock valued at $416,000 after buying an additional 22 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

MELI traded up $28.09 during trading on Wednesday, reaching $1,716.78. 485,251 shares of the company’s stock were exchanged, compared to its average volume of 406,914. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The stock has a market capitalization of $87.04 billion, a P/E ratio of 76.81, a price-to-earnings-growth ratio of 1.09 and a beta of 1.45. The company’s fifty day simple moving average is $1,501.79 and its 200-day simple moving average is $1,549.14.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. MercadoLibre’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period last year, the firm posted $3.97 EPS. As a group, research analysts predict that MercadoLibre, Inc. will post 34.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MELI. Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. Susquehanna raised their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. UBS Group lowered their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,805.00.

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.