Knuff & Co LLC Acquires 662 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Knuff & Co LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,449 shares of the company’s stock after acquiring an additional 662 shares during the quarter. MercadoLibre accounts for 2.5% of Knuff & Co LLC’s holdings, making the stock its 8th biggest position. Knuff & Co LLC’s holdings in MercadoLibre were worth $6,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in MercadoLibre by 1.1% during the third quarter. Commonwealth Equity Services LLC now owns 7,111 shares of the company’s stock valued at $9,017,000 after buying an additional 74 shares during the period. SVB Wealth LLC grew its position in MercadoLibre by 4.3% during the third quarter. SVB Wealth LLC now owns 316 shares of the company’s stock valued at $401,000 after buying an additional 13 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in MercadoLibre by 108.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,847 shares of the company’s stock valued at $7,413,000 after purchasing an additional 3,038 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in MercadoLibre during the third quarter valued at $375,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in MercadoLibre by 9.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,834 shares of the company’s stock valued at $4,861,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MELI. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective on the stock in a report on Tuesday, April 23rd. Barclays decreased their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Susquehanna increased their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Citigroup decreased their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a report on Friday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,805.00.

MercadoLibre Trading Up 8.3 %

MELI stock traded up $124.57 during trading on Friday, reaching $1,630.56. 1,346,802 shares of the stock were exchanged, compared to its average volume of 395,765. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $1,499.29 and a 200-day moving average price of $1,537.76. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The firm has a market capitalization of $82.67 billion, a price-to-earnings ratio of 72.96, a P/E/G ratio of 1.09 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business earned $3.97 earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, research analysts predict that MercadoLibre, Inc. will post 34.46 earnings per share for the current year.

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.