Griffin Asset Management Inc. Acquires 131 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Griffin Asset Management Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,803 shares of the company’s stock after purchasing an additional 131 shares during the quarter. Griffin Asset Management Inc.’s holdings in MercadoLibre were worth $2,726,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on MELI shares. UBS Group lowered their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Barclays upped their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. DZ Bank raised shares of 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. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,881.92.

MercadoLibre Trading Down 1.1 %

MELI traded down $17.49 during trading on Friday, reaching $1,643.40. 249,707 shares of the company’s stock were exchanged, compared to its average volume of 280,272. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The firm has a fifty day moving average price of $1,616.76 and a two-hundred day moving average price of $1,607.34. The stock has a market capitalization of $83.32 billion, a PE ratio of 73.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The firm had revenue of $4.33 billion for 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%. The business’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.97 EPS. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

MercadoLibre Company 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.