MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,803 shares of the company’s stock after acquiring an additional 131 shares during the period. Griffin Asset Management Inc.’s holdings in MercadoLibre were worth $2,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asio Capital LLC purchased a new stake in MercadoLibre during the 1st quarter worth $2,210,000. Register Financial Advisors LLC acquired a new stake in MercadoLibre in the first quarter worth approximately $68,000. Dohj LLC grew its stake in shares of MercadoLibre by 4.0% in the 1st quarter. Dohj LLC now owns 338 shares of the company’s stock worth $511,000 after purchasing an additional 13 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of MercadoLibre by 19.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock worth $3,753,000 after purchasing an additional 396 shares during the period. Finally, Investment Partners Asset Management Inc. lifted its position in shares of MercadoLibre by 10.9% in the 1st quarter. Investment Partners Asset Management Inc. now owns 224 shares of the company’s stock valued at $339,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $17.49 during mid-day trading on Friday, hitting $1,643.40. 249,707 shares of the company’s stock traded hands, 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 company’s 50-day moving average is $1,616.76 and its two-hundred day moving average is $1,607.34. The company has a market capitalization of $83.32 billion, a P/E ratio of 73.53, a PEG ratio of 1.21 and a beta of 1.60. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00.

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

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. Barclays lifted their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, May 13th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Citigroup dropped their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Wedbush reissued an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a research report on Friday, May 3rd. Finally, DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,881.92.

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.