Hohimer Wealth Management LLC Takes $481,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Hohimer Wealth Management LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter, according to its most recent filing with the SEC. The fund purchased 318 shares of the company’s stock, valued at approximately $481,000.

A number of other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in MercadoLibre during the 4th quarter worth $28,000. First PREMIER Bank bought a new position in MercadoLibre during the 1st quarter worth $27,000. Archer Investment Corp bought a new position in MercadoLibre during the 4th quarter worth $31,000. Larson Financial Group LLC bought a new position in MercadoLibre during the 4th quarter worth $36,000. Finally, DSM Capital Partners LLC bought a new position in MercadoLibre during the 4th quarter worth $36,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MELI shares. Wedbush restated an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a research note on Friday, May 3rd. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and upped their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. UBS Group reduced their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research report on Tuesday, April 23rd. Finally, Barclays boosted their price target 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,922.08.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $23.56 during trading on Tuesday, hitting $1,720.43. The stock had a trading volume of 265,063 shares, compared to its average volume of 371,257. MercadoLibre, Inc. has a fifty-two week low of $1,128.30 and a fifty-two week high of $1,825.00. The firm has a market cap of $87.23 billion, a P/E ratio of 77.04, a PEG ratio of 1.29 and a beta of 1.60. 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 business has a fifty day moving average of $1,663.00 and a two-hundred day moving average of $1,612.71.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating 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 business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the business posted $3.97 earnings per share. MercadoLibre’s revenue was up 36.0% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

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.