Alpha Omega Wealth Management LLC Has $376,000 Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Alpha Omega Wealth Management LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 249 shares of the company’s stock after selling 38 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in MercadoLibre were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. WCM Investment Management LLC increased its stake in shares of MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares in the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $554,386,000. Morgan Stanley increased its position in MercadoLibre by 10.2% in the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares during the period. International Assets Investment Management LLC increased its position in MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in MercadoLibre by 1,432.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after purchasing an additional 119,043 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. Citigroup lowered their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research report on Friday, May 3rd. Barclays boosted their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. UBS Group cut their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,881.92.

MercadoLibre Stock Performance

NASDAQ MELI traded down $17.49 on Friday, reaching $1,643.40. The stock had a trading volume of 249,707 shares, compared to its average volume of 280,272. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The firm has a fifty day moving average of $1,616.76 and a two-hundred day moving average of $1,607.27. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a market cap of $83.32 billion, a P/E ratio of 73.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. MercadoLibre’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.97 earnings per share. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 33.81 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.