Coldstream Capital Management Inc. purchased a new stake in shares of Mercadolibre Inc (NASDAQ:MELI) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 800 shares of the company’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Mercadolibre in the 4th quarter worth approximately $10,152,000. Wealthcare Advisory Partners LLC purchased a new position in Mercadolibre in the 1st quarter worth $38,000. American Beacon Advisors Inc. bought a new stake in Mercadolibre in the first quarter worth $40,000. Truewealth LLC lifted its stake in Mercadolibre by 1,500.0% in the first quarter. Truewealth LLC now owns 128 shares of the company’s stock worth $63,000 after purchasing an additional 120 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its position in Mercadolibre by 23.5% during the first quarter. Flagship Harbor Advisors LLC now owns 142 shares of the company’s stock valued at $69,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 81.01% of the company’s stock.

Several research analysts have recently commented on the company. Citigroup upgraded Mercadolibre from a “neutral” rating to a “buy” rating in a report on Wednesday, May 6th. ValuEngine downgraded shares of Mercadolibre from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Bank of America increased their price target on shares of Mercadolibre from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $750.00 price objective (up previously from $655.00) on shares of Mercadolibre in a report on Wednesday, May 6th. Finally, BTIG Research increased their price target on shares of Mercadolibre from $775.00 to $980.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mercadolibre currently has a consensus rating of “Buy” and an average price target of $774.90.

MELI stock traded down $11.01 during midday trading on Friday, hitting $960.43. The company’s stock had a trading volume of 78,370 shares, compared to its average volume of 491,818. The firm’s 50-day moving average is $851.88 and its 200-day moving average is $663.39. The company has a current ratio of 2.23, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42. Mercadolibre Inc has a 12 month low of $422.22 and a 12 month high of $998.11. The company has a market cap of $48.05 billion, a PE ratio of -230.15 and a beta of 1.69.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.04. The firm had revenue of $652.09 million during the quarter, compared to analysts’ expectations of $609.27 million. Mercadolibre had a negative return on equity of 5.29% and a negative net margin of 8.28%. The company’s revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. Analysts expect that Mercadolibre Inc will post -1.04 earnings per share for the current year.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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