HB Wealth Management LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

HB Wealth Management LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 180 shares of the company’s stock, valued at approximately $283,000.

Other large investors have also modified their holdings of the company. Salem Investment Counselors Inc. increased its holdings in shares of MercadoLibre by 500.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock worth $30,000 after acquiring an additional 20 shares during the period. Proffitt & Goodson Inc. bought a new position in shares of MercadoLibre during the 3rd quarter valued at about $32,000. Castleview Partners LLC boosted its position in shares of MercadoLibre by 58.8% during the 2nd quarter. Castleview Partners LLC now owns 27 shares of the company’s stock valued at $32,000 after purchasing an additional 10 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of MercadoLibre during the 3rd quarter valued at about $36,000. Finally, NBC Securities Inc. bought a new position in shares of MercadoLibre during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MELI shares. Citigroup reduced their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. Barclays raised their target price on shares of MercadoLibre from $1,900.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,817.86.

MercadoLibre Price Performance

Shares of MELI opened at $1,511.96 on Friday. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The firm has a market cap of $76.66 billion, a PE ratio of 77.38, a PEG ratio of 1.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The firm’s 50 day moving average price is $1,654.04 and its 200 day moving average price is $1,508.43.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the business earned $3.25 EPS. The company’s revenue for the quarter was up 42.0% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 36.06 EPS for the current fiscal year.

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.