Wealth Enhancement Advisory Services LLC Purchases 396 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,482 shares of the company’s stock after buying an additional 396 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in MercadoLibre were worth $3,753,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

MELI has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. Barclays upped their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Finally, Citigroup cut their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,596.48 on Wednesday. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The business’s fifty day simple moving average is $1,621.34 and its 200-day simple moving average is $1,607.20. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The company has a market cap of $80.94 billion, a PE ratio of 71.77, a PEG ratio of 1.20 and a beta of 1.60.

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. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the company posted $3.97 EPS. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal 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.