Moran Wealth Management LLC Has $702,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Moran Wealth Management LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 413 shares of the company’s stock after selling 6 shares during the quarter. Moran Wealth Management LLC’s holdings in MercadoLibre were worth $702,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MELI. Human Investing LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. lifted its position in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its stake in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $32,000. Finally, Mather Group LLC. lifted its holdings in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MELI stock opened at $1,990.11 on Wednesday. The stock has a 50-day moving average price of $1,952.66 and a two-hundred day moving average price of $1,969.27. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The stock has a market cap of $100.89 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several recent research reports. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Bank of America upped their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Barclays upped their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $2,402.81.

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.