Archer Investment Corp Purchases New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Archer Investment Corp purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Synergy Financial Group LTD boosted its stake in MercadoLibre by 0.5% in the 3rd quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock worth $2,030,000 after purchasing an additional 8 shares during the period. Gateway Advisory LLC boosted its stake in MercadoLibre by 1.9% in the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock worth $545,000 after purchasing an additional 8 shares during the period. Contravisory Investment Management Inc. boosted its stake in MercadoLibre by 6.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after purchasing an additional 8 shares during the period. IMA Wealth Inc. raised its holdings in shares of MercadoLibre by 1.0% in the 2nd quarter. IMA Wealth Inc. now owns 943 shares of the company’s stock valued at $1,117,000 after acquiring an additional 9 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of MercadoLibre by 32.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 37 shares of the company’s stock valued at $47,000 after acquiring an additional 9 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,397.86 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The stock has a 50 day moving average price of $1,574.80 and a two-hundred day moving average price of $1,523.84. The company has a market capitalization of $70.87 billion, a P/E ratio of 71.54, a PEG ratio of 0.90 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the firm posted $3.25 EPS. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 35.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent analyst reports. Barclays cut their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Wedbush reissued an “outperform” rating and set a $2,000.00 price objective on shares of MercadoLibre in a report on Tuesday, March 5th. Citigroup cut their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, UBS Group dropped their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,813.85.

MercadoLibre 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.