Freestone Capital Holdings LLC Acquires 97 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Freestone Capital Holdings LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 27.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 454 shares of the company’s stock after purchasing an additional 97 shares during the period. Freestone Capital Holdings LLC’s holdings in MercadoLibre were worth $686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First PREMIER Bank purchased a new position in shares of MercadoLibre in the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter worth $28,000. Archer Investment Corp bought a new position in shares of MercadoLibre during the 4th quarter valued at about $31,000. Larson Financial Group LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $36,000. Finally, DSM Capital Partners LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth about $36,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. UBS Group decreased 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. Finally, 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 report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,922.08.

MercadoLibre Trading Up 1.3 %

Shares of NASDAQ MELI traded up $20.32 during mid-day trading on Friday, reaching $1,645.47. The company had a trading volume of 110,223 shares, compared to its average volume of 363,519. The stock has a market cap of $83.43 billion, a price-to-earnings ratio of 73.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $1,825.00. The business’s 50-day moving average is $1,656.94 and its 200-day moving average is $1,618.65. 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 (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping the consensus estimate of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the business posted $3.97 EPS. MercadoLibre’s quarterly revenue was up 36.0% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 33.38 earnings per share 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.