First Trust Advisors LP Has $24.81 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

First Trust Advisors LP lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,787 shares of the company’s stock after selling 245 shares during the period. First Trust Advisors LP’s holdings in MercadoLibre were worth $24,810,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC lifted its position in shares of MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after buying an additional 7 shares during the period. Independent Advisor Alliance lifted its holdings in shares of MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after acquiring an additional 7 shares during the period. Gateway Advisory LLC boosted its stake in shares of MercadoLibre by 1.9% in the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after purchasing an additional 8 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of MercadoLibre by 6.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after purchasing an additional 8 shares during the last quarter. Finally, Vestor Capital LLC increased its position in shares of MercadoLibre by 10.0% during the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock worth $138,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MELI shares. Barclays upped their price objective on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note 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 for the company in a research report on Wednesday, April 17th. Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. Citigroup cut their price target 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. Finally, JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

Read Our Latest Stock Report on MercadoLibre

MercadoLibre Price Performance

MELI opened at $1,601.88 on Tuesday. The company has a fifty day moving average price of $1,575.10 and a two-hundred day moving average price of $1,606.76. The firm has a market capitalization of $81.21 billion, a PE ratio of 71.67, a P/E/G ratio of 1.17 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion during 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 firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.97 earnings per share. As a group, analysts anticipate that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

MercadoLibre Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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