Summitry LLC Grows Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Summitry LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147 shares of the company’s stock after purchasing an additional 49 shares during the quarter. Summitry LLC’s holdings in MercadoLibre were worth $250,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MELI. Human Investing LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. lifted its position in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. boosted its stake in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth about $32,000. Finally, Mather Group LLC. increased its position in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Wedbush cut their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Bank of America increased their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald lifted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Trading Up 2.7 %

Shares of MELI stock opened at $2,191.30 on Wednesday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The business’s fifty day moving average price is $2,014.23 and its 200 day moving average price is $1,972.78. The firm has a market capitalization of $111.09 billion, a PE ratio of 58.12, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.