Leavell Investment Management Inc. Buys Shares of 115 MercadoLibre, Inc. (NASDAQ:MELI)

Leavell Investment Management Inc. acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 115 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre in the 4th quarter valued at $561,000. Independent Advisor Alliance boosted its holdings in shares of MercadoLibre by 12.3% in the fourth quarter. Independent Advisor Alliance now owns 776 shares of the company’s stock worth $1,319,000 after buying an additional 85 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of MercadoLibre by 7.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,605 shares of the company’s stock worth $2,729,000 after acquiring an additional 114 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of MercadoLibre by 123.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 145 shares of the company’s stock valued at $247,000 after acquiring an additional 80 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of MercadoLibre by 0.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,403 shares of the company’s stock valued at $14,289,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MELI shares. Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. The Goldman Sachs Group upped their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Benchmark downgraded MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,645.94.

MercadoLibre Stock Performance

MELI stock opened at $2,387.45 on Friday. The company has a market capitalization of $121.04 billion, a price-to-earnings ratio of 58.72, a P/E/G ratio of 1.42 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The firm has a 50 day moving average of $2,486.03 and a two-hundred day moving average of $2,161.17. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.78 earnings per share. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.