D.A. Davidson & CO. Has $3.22 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Posted by on Jul 12th, 2023

D.A. Davidson & CO. lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,442 shares of the company’s stock after selling 40 shares during the period. D.A. Davidson & CO.’s holdings in MercadoLibre were worth $3,219,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MELI. Baillie Gifford & Co. grew its stake in shares of MercadoLibre by 5.9% during the fourth quarter. Baillie Gifford & Co. now owns 6,125,300 shares of the company’s stock worth $5,183,474,000 after buying an additional 342,065 shares during the last quarter. Generation Investment Management LLP raised its position in MercadoLibre by 3.5% in the fourth quarter. Generation Investment Management LLP now owns 707,061 shares of the company’s stock valued at $598,343,000 after purchasing an additional 23,855 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of MercadoLibre by 4.8% during the fourth quarter. Franklin Resources Inc. now owns 555,767 shares of the company’s stock valued at $470,312,000 after purchasing an additional 25,228 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 30.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock worth $401,841,000 after purchasing an additional 111,751 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $482,000. 80.67% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 3.2 %

MercadoLibre stock opened at $1,121.58 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $56.31 billion, a PE ratio of 91.86, a PEG ratio of 1.46 and a beta of 1.54. The firm’s fifty day moving average is $1,235.56 and its 200 day moving average is $1,180.95. MercadoLibre, Inc. has a 12-month low of $615.54 and a 12-month high of $1,365.64.

MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.93. MercadoLibre had a net margin of 5.46% and a return on equity of 34.92%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 16.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. Citigroup boosted their target price on shares of MercadoLibre from $1,460.00 to $1,500.00 in a report on Thursday, June 8th. StockNews.com began coverage on MercadoLibre in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet downgraded MercadoLibre from a “b-” rating to a “c+” rating in a research report on Monday. Morgan Stanley upped their target price on MercadoLibre from $1,620.00 to $1,770.00 in a report on Friday, March 31st. Finally, Credit Suisse Group lowered their price target on shares of MercadoLibre from $1,750.00 to $1,700.00 in a report on Tuesday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,446.82.

About MercadoLibre

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

See Also

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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