Legacy Wealth Asset Management LLC Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Legacy Wealth Asset Management LLC decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% during the 1st quarter, Holdings Channel.com reports. The firm 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.

Other hedge funds also recently bought and sold shares of the company. First PREMIER Bank purchased a new stake in shares of MercadoLibre during the first quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $28,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $31,000. Larson Financial Group LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth $36,000. Finally, DSM Capital Partners LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MELI shares. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. 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 note on Tuesday, April 23rd. Barclays increased their price target on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Citigroup reduced their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, UBS Group dropped their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,591.44 on Friday. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. 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 50 day moving average price of $1,634.35 and a 200 day moving average price of $1,606.91. The company has a market cap of $80.69 billion, a price-to-earnings ratio of 71.21, a PEG ratio of 1.16 and a beta of 1.60.

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