Marks Group Wealth Management Inc Makes New $236,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Marks Group Wealth Management Inc acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 150 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $28,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $31,000. Larson Financial Group LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $36,000. Proffitt & Goodson Inc. acquired a new stake in shares of MercadoLibre in the 3rd quarter valued at $32,000. Finally, Blue Trust Inc. boosted its holdings in shares of MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after purchasing an additional 9 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,395.00 on Wednesday. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The firm has a market capitalization of $70.73 billion, a price-to-earnings ratio of 71.39, a PEG ratio of 0.88 and a beta of 1.44. The business has a 50-day simple moving average of $1,546.31 and a 200 day simple moving average of $1,529.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MELI shares. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Citigroup cut their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. UBS Group cut their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Wedbush cut their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,790.36.

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.