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

Mission Wealth Management LP acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 179 shares of the company’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Envestnet Asset Management Inc. boosted its holdings in MercadoLibre by 99.3% in the third quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after purchasing an additional 26,679 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of MercadoLibre by 0.9% during the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after buying an additional 14 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of MercadoLibre by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after buying an additional 1,277 shares during the last quarter. Vanguard Group Inc. grew its position in shares of MercadoLibre by 2.3% during the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after buying an additional 4,065 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after buying an additional 146,034 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on MELI shares. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Citigroup lowered their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Wedbush restated an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a research note on Friday. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a report on Tuesday, April 23rd. Finally, Barclays decreased their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

MercadoLibre Stock Up 8.3 %

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

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.97 EPS. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 34.46 earnings per share 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.