Hazlett Burt & Watson Inc. Acquires 27 Shares of MercadoLibre, Inc. $MELI

Hazlett Burt & Watson Inc. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1,350.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29 shares of the company’s stock after purchasing an additional 27 shares during the period. Hazlett Burt & Watson Inc.’s holdings in MercadoLibre were worth $75,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Key Financial Inc bought a new stake in MercadoLibre in the first quarter worth $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the first quarter worth $25,000. Close Asset Management Ltd lifted its stake in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in shares of MercadoLibre during the first quarter valued at about $29,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,175.91 on Tuesday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company’s 50-day moving average is $2,359.10 and its 200 day moving average is $2,348.74. The stock has a market capitalization of $110.32 billion, a P/E ratio of 53.74, a P/E/G ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 EPS. MercadoLibre’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Citigroup lowered their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays lowered their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Finally, Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,810.88.

About MercadoLibre

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.