Stonegate Investment Group LLC Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Stonegate Investment Group LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586 shares of the company’s stock after buying an additional 15 shares during the period. Stonegate Investment Group LLC’s holdings in MercadoLibre were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First PREMIER Bank purchased a new stake in shares of MercadoLibre during the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth about $28,000. Archer Investment Corp purchased a new stake in MercadoLibre during the 4th quarter valued at about $31,000. NBC Securities Inc. acquired a new position in shares of MercadoLibre in the third quarter valued at about $35,000. Finally, Larson Financial Group LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $36,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the topic of a number of recent research reports. Susquehanna upped their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Barclays decreased their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Citigroup reduced their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $1,790.36.

MercadoLibre Price Performance

MELI stock traded up $20.34 during mid-day trading on Tuesday, reaching $1,458.70. 547,882 shares of the company’s stock were exchanged, compared to its average volume of 386,104. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The stock’s 50 day moving average is $1,511.13 and its 200 day moving average is $1,535.71. The company has a market cap of $73.96 billion, a price-to-earnings ratio of 74.65, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the company earned $3.25 earnings per share. The company’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 34.46 EPS for the current year.

About MercadoLibre

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.