Kovack Advisors Inc. Has $2.15 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)


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Kovack Advisors Inc. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,284 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Kovack Advisors Inc.’s holdings in MercadoLibre were worth $2,151,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AXA S.A. bought a new position in MercadoLibre during the third quarter valued at approximately $207,000. IFM Investors Pty Ltd lifted its position in shares of MercadoLibre by 17.0% during the fourth quarter. IFM Investors Pty Ltd now owns 4,316 shares of the company’s stock worth $7,230,000 after purchasing an additional 626 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of MercadoLibre by 4.0% during the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 206 shares of the company’s stock worth $345,000 after buying an additional 8 shares during the period. Sheets Smith Wealth Management purchased a new position in MercadoLibre in the fourth quarter valued at approximately $1,806,000. Finally, Handelsbanken Fonder AB boosted its stake in MercadoLibre by 2.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,072 shares of the company’s stock valued at $11,985,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 75.66% of the company’s stock.

MercadoLibre stock traded up $68.05 during midday trading on Thursday, reaching $1,866.24. 28,796 shares of the company were exchanged, compared to its average volume of 699,431. MercadoLibre, Inc. has a 1 year low of $422.22 and a 1 year high of $1,845.25. The firm’s 50-day simple moving average is $1,636.80 and its 200-day simple moving average is $1,272.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.62 and a current ratio of 1.64. The company has a market capitalization of $93.07 billion, a price-to-earnings ratio of -11,237.99 and a beta of 1.66.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.20. MercadoLibre had a negative return on equity of 0.22% and a negative net margin of 0.12%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $984.75 million. During the same quarter last year, the company earned ($2.96) EPS. The company’s quarterly revenue was up 85.0% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 1.45 EPS for the current fiscal year.

MELI has been the subject of a number of research reports. Jefferies Financial Group raised their price objective on MercadoLibre from $1,350.00 to $1,560.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Deutsche Bank Aktiengesellschaft raised their price target on MercadoLibre from $1,500.00 to $1,530.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Santander raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,980.00 price target for the company in a report on Tuesday, December 22nd. New Street Research started coverage on MercadoLibre in a research note on Monday, October 19th. They issued a “buy” rating and a $1,450.00 target price for the company. Finally, UBS Group lifted their target price on MercadoLibre from $1,400.00 to $1,530.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,335.35.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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