Turtle Creek Wealth Advisors LLC Purchases New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Turtle Creek Wealth Advisors LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Trust N.A. bought a new stake in shares of MercadoLibre during the 1st quarter worth approximately $236,000. Cibc World Market Inc. lifted its stake in MercadoLibre by 6.1% in the 1st quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock valued at $784,000 after purchasing an additional 38 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in MercadoLibre by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock valued at $225,000 after purchasing an additional 15 shares during the last quarter. Blair William & Co. IL lifted its stake in MercadoLibre by 10.1% in the 1st quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock valued at $3,423,000 after purchasing an additional 264 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of MercadoLibre by 25.1% during the first quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock valued at $1,247,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 4.2 %

MELI opened at $1,444.14 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The company’s 50-day moving average is $1,594.55 and its 200 day moving average is $1,519.20. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The firm has a market capitalization of $73.22 billion, a P/E ratio of 73.91, a PEG ratio of 0.97 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the business earned $3.25 earnings per share. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. Research analysts expect that MercadoLibre, Inc. will post 35.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Citigroup decreased their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Susquehanna increased their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Barclays decreased their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Wedbush restated an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,806.15.

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.