Archer Investment Corp Takes $31,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Archer Investment Corp acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 20 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at $28,000. Proffitt & Goodson Inc. bought a new position in shares of MercadoLibre in the third quarter valued at $32,000. Castleview Partners LLC grew its stake in shares of MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock valued at $32,000 after buying an additional 10 shares in the last quarter. NBC Securities Inc. bought a new position in shares of MercadoLibre in the third quarter valued at $35,000. Finally, Blue Trust Inc. grew its stake in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after buying an additional 9 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 0.0 %

MELI stock opened at $1,397.86 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The company has a market cap of $70.87 billion, a PE ratio of 71.54, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The business has a 50-day simple moving average of $1,574.80 and a 200 day simple moving average of $1,523.84.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm’s revenue was up 42.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.25 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 35.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Susquehanna lifted their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Barclays reduced their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,813.85.

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.