Silvercrest Asset Management Group LLC Has $11.87 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Silvercrest Asset Management Group LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,853 shares of the company’s stock after selling 164 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in MercadoLibre were worth $11,873,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MELI. First PREMIER Bank acquired a new position in shares of MercadoLibre during the first quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $28,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $31,000. Larson Financial Group LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. Finally, DSM Capital Partners LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,626.15 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $1,825.00. The firm has a market cap of $82.45 billion, a P/E ratio of 72.76, a P/E/G ratio of 1.20 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The business’s fifty day moving average is $1,648.75 and its two-hundred day moving average is $1,619.63.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.97 EPS. Equities research analysts forecast that MercadoLibre, Inc. will post 33.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MELI shares. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday, April 23rd. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Barclays lifted their price objective on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and increased their target price for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Finally, UBS Group decreased their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,922.08.

MercadoLibre Company 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.