WESPAC Advisors LLC Increases Position in Mercadolibre Inc (MELI)
WESPAC Advisors LLC boosted its stake in Mercadolibre Inc (NASDAQ:MELI) by 31.8% in the first quarter, Holdings Channel reports. The fund owned 2,103 shares of the company’s stock after buying an additional 508 shares during the quarter. WESPAC Advisors LLC’s holdings in Mercadolibre were worth $815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of Mercadolibre by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 47,805 shares of the company’s stock valued at $16,276,000 after purchasing an additional 1,817 shares during the period. First Republic Investment Management Inc. bought a new position in Mercadolibre during the 3rd quarter valued at approximately $284,000. Pacer Advisors Inc. increased its position in Mercadolibre by 18.3% during the 3rd quarter. Pacer Advisors Inc. now owns 1,690 shares of the company’s stock valued at $575,000 after buying an additional 261 shares in the last quarter. Koshinski Asset Management Inc. increased its position in Mercadolibre by 40.4% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,179 shares of the company’s stock valued at $401,000 after buying an additional 339 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Mercadolibre by 9.9% during the 3rd quarter. Teachers Advisors LLC now owns 3,276 shares of the company’s stock valued at $1,115,000 after buying an additional 294 shares in the last quarter. 91.12% of the stock is owned by hedge funds and other institutional investors.
MELI has been the subject of a number of analyst reports. Credit Suisse Group raised their price objective on Mercadolibre from $398.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Barclays reaffirmed a “buy” rating and set a $445.00 price objective on shares of Mercadolibre in a research report on Thursday, February 28th. BidaskClub raised Mercadolibre from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. Bank of America reaffirmed a “buy” rating and set a $600.00 price objective on shares of Mercadolibre in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research lowered Mercadolibre from a “hold” rating to a “strong sell” rating in a research report on Monday, February 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $449.83.
Shares of Mercadolibre stock traded down $6.38 on Friday, reaching $492.00. The company’s stock had a trading volume of 634,593 shares, compared to its average volume of 645,979. The firm has a market cap of $22.24 billion, a price-to-earnings ratio of -600.00 and a beta of 2.22. Mercadolibre Inc has a 52 week low of $257.52 and a 52 week high of $527.09. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 1.79.
Mercadolibre (NASDAQ:MELI) last posted its earnings results on Tuesday, February 26th. The company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.13. The business had revenue of $428.00 million during the quarter, compared to analyst estimates of $400.80 million. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned ($1.53) EPS. On average, equities research analysts forecast that Mercadolibre Inc will post 0.4 EPS for the current fiscal year.
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MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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