Carret Asset Management LLC Decreases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Carret Asset Management LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 431 shares of the company’s stock after selling 24 shares during the period. Carret Asset Management LLC’s holdings in MercadoLibre were worth $652,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of MercadoLibre by 4.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 238,810 shares of the company’s stock valued at $361,071,000 after purchasing an additional 10,310 shares during the last quarter. Integrity Wealth Solutions LLC raised its holdings in shares of MercadoLibre by 19.7% during the first quarter. Integrity Wealth Solutions LLC now owns 473 shares of the company’s stock valued at $715,000 after purchasing an additional 78 shares during the last quarter. CAP Partners LLC raised its holdings in shares of MercadoLibre by 8.5% during the first quarter. CAP Partners LLC now owns 308 shares of the company’s stock valued at $466,000 after purchasing an additional 24 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $11,827,000. Finally, Deepwater Asset Management LLC raised its holdings in shares of MercadoLibre by 14.5% during the first quarter. Deepwater Asset Management LLC now owns 9,409 shares of the company’s stock valued at $14,226,000 after purchasing an additional 1,188 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,591.44 on Thursday. 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 firm has a fifty day moving average price of $1,625.37 and a 200 day moving average price of $1,607.13. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The firm has a market cap of $80.69 billion, a price-to-earnings ratio of 71.21, a P/E/G ratio of 1.17 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business earned $3.97 earnings per share. MercadoLibre’s revenue for the quarter was up 36.0% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MELI. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their target price for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Citigroup reduced their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. UBS Group reduced their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.