Wambolt & Associates LLC Invests $207,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Wambolt & Associates LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 122 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in shares of MercadoLibre by 11.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock worth $404,000 after purchasing an additional 21 shares during the last quarter. Cerity Partners LLC grew its holdings in MercadoLibre by 25.6% during the third quarter. Cerity Partners LLC now owns 4,875 shares of the company’s stock valued at $10,003,000 after purchasing an additional 993 shares during the period. Kingsview Wealth Management LLC increased its position in MercadoLibre by 11.2% in the third quarter. Kingsview Wealth Management LLC now owns 426 shares of the company’s stock worth $874,000 after buying an additional 43 shares during the last quarter. Algert Global LLC raised its stake in shares of MercadoLibre by 318.7% in the third quarter. Algert Global LLC now owns 1,633 shares of the company’s stock valued at $3,351,000 after buying an additional 1,243 shares during the period. Finally, Pitcairn Co. lifted its position in shares of MercadoLibre by 5.6% during the 3rd quarter. Pitcairn Co. now owns 282 shares of the company’s stock valued at $579,000 after buying an additional 15 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MELI. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Barclays lifted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. 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 currently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Price Performance

MELI stock opened at $2,191.30 on Wednesday. The firm has a 50 day simple moving average of $2,014.23 and a two-hundred day simple moving average of $1,972.78. The stock has a market cap of $111.09 billion, a PE ratio of 58.12, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year 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 released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating 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 business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.