MV Capital Management Inc. Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

MV Capital Management Inc. bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to its most recent filing with the SEC. The fund bought 71 shares of the company’s stock, valued at approximately $139,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its position in MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after acquiring an additional 143 shares during the period. Prospect Financial Services LLC raised its holdings in shares of MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock worth $663,000 after purchasing an additional 100 shares during the period. Jones Financial Companies Lllp lifted its stake in MercadoLibre by 34.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company’s stock valued at $5,957,000 after purchasing an additional 891 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in MercadoLibre by 47.3% during the fourth quarter. Apollon Wealth Management LLC now owns 629 shares of the company’s stock valued at $1,070,000 after purchasing an additional 202 shares during the period. Finally, JARISLOWSKY FRASER Ltd grew its holdings in MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock valued at $5,525,000 after purchasing an additional 987 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MELI. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. Finally, Barclays upped their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,632.50.

MercadoLibre Trading Down 0.4%

MercadoLibre stock opened at $2,387.00 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88. The stock has a market cap of $121.01 billion, a P/E ratio of 63.32, a PEG ratio of 1.12 and a beta of 1.51. The firm’s fifty day moving average price is $2,318.55 and its 200-day moving average price is $2,070.71.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter last year, the firm posted $6.78 EPS. The company’s revenue was up 37.0% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 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.