Mission Wealth Management LP Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Mission Wealth Management LP purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, Holdings Channel reports. The fund purchased 179 shares of the company’s stock, valued at approximately $281,000.

A number of other large investors also recently modified their holdings of MELI. Cozad Asset Management Inc. grew its stake in shares of MercadoLibre by 39.6% in the fourth quarter. Cozad Asset Management Inc. now owns 335 shares of the company’s stock valued at $526,000 after buying an additional 95 shares in the last quarter. Sargent Investment Group LLC lifted its stake in MercadoLibre by 15.0% in the fourth quarter. Sargent Investment Group LLC now owns 498 shares of the company’s stock valued at $783,000 after acquiring an additional 65 shares during the last quarter. Principle Wealth Partners LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $340,000. RWC Asset Management LLP increased its stake in shares of MercadoLibre by 13.9% during the 4th quarter. RWC Asset Management LLP now owns 24,301 shares of the company’s stock worth $38,190,000 after purchasing an additional 2,961 shares during the last quarter. Finally, RWC Asset Advisors US LLC raised its holdings in shares of MercadoLibre by 17.4% in the 4th quarter. RWC Asset Advisors US LLC now owns 59,566 shares of the company’s stock valued at $93,610,000 after purchasing an additional 8,813 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MELI opened at $1,630.56 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The firm has a market cap of $82.67 billion, a P/E ratio of 72.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.45. The business’s fifty day moving average is $1,499.27 and its 200-day moving average is $1,534.96.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. MercadoLibre’s revenue was up 36.0% compared to the same quarter last year. During the same period last year, the firm posted $3.97 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 34.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research analyst reports. UBS Group reduced their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Barclays dropped 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 research report on Wednesday, April 3rd. Susquehanna upped their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research report on Tuesday, April 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research note on Friday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,790.36.

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.