Fortis Capital Management LLC Purchases 543 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Fortis Capital Management LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 22.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,912 shares of the company’s stock after acquiring an additional 543 shares during the quarter. Fortis Capital Management LLC’s holdings in MercadoLibre were worth $4,952,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Swedbank AB lifted its position in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after acquiring an additional 21 shares during the last quarter. Avior Wealth Management LLC raised its holdings in MercadoLibre by 268.1% during the third quarter. Avior Wealth Management LLC now owns 173 shares of the company’s stock worth $355,000 after acquiring an additional 126 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in MercadoLibre during the third quarter valued at approximately $209,000. Finally, 49 Wealth Management LLC bought a new position in MercadoLibre in the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MELI shares. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald increased their price target 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. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Finally, Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Up 1.3 %

MELI stock opened at $2,095.27 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week 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 stock has a market capitalization of $106.22 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. The business’s fifty day moving average price is $1,997.59 and its two-hundred day moving average price is $1,970.80.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company 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%. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.