Kovack Advisors Inc. Acquires 201 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Kovack Advisors Inc. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,164 shares of the company’s stock after purchasing an additional 201 shares during the quarter. Kovack Advisors Inc.’s holdings in MercadoLibre were worth $3,679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Planning Capital Management Corp increased its position in shares of MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares in the last quarter. Mount Lucas Management LP increased its position in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after buying an additional 5 shares in the last quarter. Strategic Blueprint LLC increased its position in shares of MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after buying an additional 6 shares in the last quarter. Nvwm LLC increased its position in shares of MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after buying an additional 6 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its position in shares of MercadoLibre by 3.7% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock valued at $407,000 after buying an additional 7 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of a number of research analyst reports. Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Stock Up 1.3 %

Shares of MELI stock opened at $2,197.64 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm’s 50-day moving average is $1,892.64 and its 200-day moving average is $1,964.15. The stock has a market cap of $111.41 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current 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.