Atomi Financial Group Inc. Sells 21 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Atomi Financial Group Inc. reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 8.6% during the first quarter, HoldingsChannel reports. The firm owned 224 shares of the company’s stock after selling 21 shares during the period. Atomi Financial Group Inc.’s holdings in MercadoLibre were worth $339,000 at the end of the most recent reporting period.

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

MercadoLibre Trading Down 0.9 %

NASDAQ:MELI traded down $15.39 during mid-day trading on Monday, reaching $1,745.83. 215,960 shares of the company’s stock traded hands, compared to its average volume of 370,851. MercadoLibre, Inc. has a 12-month low of $1,128.30 and a 12-month high of $1,825.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The company has a 50 day moving average price of $1,661.19 and a 200-day moving average price of $1,611.56. The firm has a market capitalization of $88.51 billion, a price-to-earnings ratio of 78.22, a PEG ratio of 1.29 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping the consensus estimate of $6.64 by $0.14. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period last year, the company posted $3.97 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MELI shares. Barclays boosted their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Wedbush restated an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their price target for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $1,922.08.

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.