Cambridge Investment Research Advisors Inc. Has $8.99 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 16.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,609 shares of the company’s stock after buying an additional 659 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in MercadoLibre were worth $8,992,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MELI. Park Square Financial Group LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at about $26,000. Covestor Ltd purchased a new stake in MercadoLibre in the 4th quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth approximately $32,000. VSM Wealth Advisory LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $37,000. Finally, Banque Transatlantique SA purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $41,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,540.50 on Thursday. The company has a 50 day moving average of $2,413.70 and a 200 day moving average of $2,099.89. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The stock has a market cap of $128.80 billion, a P/E ratio of 62.48, a P/E/G ratio of 1.50 and a beta of 1.51. MercadoLibre, Inc. has a 12 month low of $1,563.21 and a 12 month high of $2,635.88.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the business earned $6.78 EPS. The business’s revenue for the quarter was up 37.0% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. Citigroup reaffirmed a “buy” rating on shares of MercadoLibre in a research report on Friday, June 6th. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group raised their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,632.50.

Check Out Our Latest Stock Analysis on MercadoLibre

About MercadoLibre

(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.

Featured Stories

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELIFree Report).

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.