Pier 88 Investment Partners LLC Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Pier 88 Investment Partners LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 50.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the company’s stock after purchasing an additional 1,010 shares during the period. MercadoLibre makes up 1.2% of Pier 88 Investment Partners LLC’s portfolio, making the stock its 21st largest holding. Pier 88 Investment Partners LLC’s holdings in MercadoLibre were worth $4,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC boosted its stake in shares of MercadoLibre by 1.8% during the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after purchasing an additional 7 shares during the period. Independent Advisor Alliance raised its stake in shares of MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after acquiring an additional 7 shares in the last quarter. Gateway Advisory LLC boosted its holdings in shares of MercadoLibre by 1.9% in the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after purchasing an additional 8 shares during the period. Contravisory Investment Management Inc. increased its holdings in MercadoLibre by 6.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after purchasing an additional 8 shares during the period. Finally, Vestor Capital LLC increased its holdings in MercadoLibre by 10.0% during the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock worth $138,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a research report on Tuesday, April 23rd. Citigroup reduced their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price objective for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Finally, New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

Check Out Our Latest Analysis on MELI

MercadoLibre Stock Down 0.8 %

Shares of MELI stock traded down $13.83 during trading hours on Friday, reaching $1,693.57. 375,675 shares of the company’s stock were exchanged, compared to its average volume of 446,208. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The company has a market cap of $85.86 billion, a price-to-earnings ratio of 75.77, a P/E/G ratio of 1.24 and a beta of 1.45. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The stock’s 50 day moving average is $1,546.28 and its 200-day moving average is $1,590.02.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business posted $3.97 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year. Analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

MercadoLibre Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELIFree Report).

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.