Beese Fulmer Investment Management Inc. Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

Beese Fulmer Investment Management Inc. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172 shares of the company’s stock after selling 13 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in MercadoLibre were worth $260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealthspire Advisors LLC increased its holdings in shares of MercadoLibre by 1.8% in the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after purchasing an additional 7 shares during the last quarter. Independent Advisor Alliance increased its stake in MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after acquiring an additional 7 shares during the last quarter. Gateway Advisory LLC increased its stake in MercadoLibre by 1.9% during the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock worth $545,000 after acquiring an additional 8 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in MercadoLibre by 6.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after acquiring an additional 8 shares during the last quarter. Finally, Vestor Capital LLC increased its stake in MercadoLibre by 10.0% during the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock worth $138,000 after acquiring an additional 8 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.9 %

Shares of NASDAQ MELI opened at $1,573.40 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 market capitalization of $79.77 billion, a price-to-earnings ratio of 70.40, a PEG ratio of 1.15 and a beta of 1.60. The stock has a 50 day moving average price of $1,586.69 and a 200 day moving average price of $1,605.60. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Barclays boosted 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. Citigroup reduced their price objective on 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. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.