Legacy Wealth Asset Management LLC Sells 14 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Legacy Wealth Asset Management LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351 shares of the company’s stock after selling 14 shares during the period. Legacy Wealth Asset Management LLC’s holdings in MercadoLibre were worth $531,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MELI. First PREMIER Bank purchased a new position in MercadoLibre in the 1st quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $28,000. Archer Investment Corp bought a new position in MercadoLibre during the fourth quarter valued at approximately $31,000. Larson Financial Group LLC purchased a new stake in MercadoLibre in the fourth quarter worth approximately $36,000. Finally, DSM Capital Partners LLC bought a new stake in MercadoLibre in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.3 %

MercadoLibre stock opened at $1,591.44 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The firm’s 50 day moving average price is $1,634.35 and its 200-day moving average price is $1,606.91. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The stock has a market cap of $80.69 billion, a P/E ratio of 71.21, a PEG ratio of 1.16 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 (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. The firm had revenue of $4.33 billion for 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 business’s revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.97 earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on MELI shares. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Citigroup lowered their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. UBS Group dropped their price target on shares of 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. Finally, Barclays upped their price objective on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre 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.