Bogart Wealth LLC Increases Holdings in MercadoLibre, Inc. $MELI

Bogart Wealth LLC lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% in the 4th quarter, HoldingsChannel reports. The firm owned 5,825 shares of the company’s stock after purchasing an additional 307 shares during the quarter. Bogart Wealth LLC’s holdings in MercadoLibre were worth $11,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of MELI. Bison Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $206,000. Empowered Funds LLC raised its stake in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the last quarter. Focus Partners Wealth raised its stake in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MercadoLibre in the second quarter worth about $261,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 2.6%

Shares of MELI stock opened at $1,791.99 on Wednesday. The stock has a 50 day moving average of $1,769.82 and a 200 day moving average of $1,976.92. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock has a market cap of $90.85 billion, a P/E ratio of 45.48, a P/E/G ratio of 0.89 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,593.21 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. The company had revenue of $8.76 billion during the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 50.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MELI. Morgan Stanley reduced their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,685.33.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.