Valley National Advisers Inc. Sells 15 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Valley National Advisers Inc. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 899 shares of the company’s stock after selling 15 shares during the period. Valley National Advisers Inc.’s holdings in MercadoLibre were worth $1,359,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MELI. Wealthspire Advisors LLC grew its position in MercadoLibre by 1.8% in the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after acquiring an additional 7 shares during the last quarter. Independent Advisor Alliance grew its position in MercadoLibre by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after acquiring an additional 7 shares during the last quarter. Contravisory Investment Management Inc. grew its position in MercadoLibre by 6.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after acquiring an additional 8 shares during the last quarter. Vestor Capital LLC grew its position in MercadoLibre by 10.0% in the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after acquiring an additional 8 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of MercadoLibre by 56.3% during the fourth 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 Down 0.3 %

Shares of MercadoLibre stock traded down $5.04 during trading on Wednesday, reaching $1,591.44. 207,678 shares of the company traded hands, compared to its average volume of 374,815. The firm has a market capitalization of $80.68 billion, a PE ratio of 71.21, a P/E/G ratio of 1.20 and a beta of 1.60. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a 50 day moving average price of $1,625.37 and a 200-day moving average price of $1,607.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The business 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 business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the company posted $3.97 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of a number of recent research reports. Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. UBS Group cut their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research note on Tuesday, April 23rd. Finally, Wedbush reissued an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,881.92.

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.