1,031 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by OLD Mission Capital LLC

OLD Mission Capital LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,031 shares of the company’s stock, valued at approximately $1,753,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. HighPoint Advisor Group LLC lifted its stake in MercadoLibre by 35.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 437 shares of the company’s stock valued at $743,000 after purchasing an additional 114 shares during the last quarter. Summit Financial LLC lifted its position in shares of MercadoLibre by 15.6% during the 4th quarter. Summit Financial LLC now owns 2,831 shares of the company’s stock valued at $4,814,000 after acquiring an additional 383 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of MercadoLibre by 30.3% during the 4th quarter. Alliancebernstein L.P. now owns 126,895 shares of the company’s stock valued at $215,777,000 after acquiring an additional 29,529 shares during the last quarter. AIA Group Ltd grew its holdings in shares of MercadoLibre by 1.1% in the 4th quarter. AIA Group Ltd now owns 9,513 shares of the company’s stock worth $16,176,000 after acquiring an additional 101 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in MercadoLibre by 8.9% in the 4th quarter. Wellington Management Group LLP now owns 380,956 shares of the company’s stock worth $647,793,000 after purchasing an additional 31,278 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Cantor Fitzgerald upped 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 report on Friday, February 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Bank of America increased their target price on shares of 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,934.03 on Thursday. The stock has a market capitalization of $98.05 billion, a P/E ratio of 51.30, a P/E/G ratio of 1.12 and a beta of 1.64. The business has a 50-day moving average of $2,034.60 and a two-hundred day moving average of $1,970.61. 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.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company 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.