Bluebird Wealth Management LLC Invests $1.59 Million in MercadoLibre, Inc. $MELI

Bluebird Wealth Management LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 787 shares of the company’s stock, valued at approximately $1,586,000. MercadoLibre comprises approximately 1.5% of Bluebird Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding.

Several other hedge funds have also modified their holdings of MELI. Baillie Gifford & Co. lifted its stake in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares in the last quarter. Capital Research Global Investors lifted its stake in MercadoLibre by 3.4% in the 3rd quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock valued at $4,244,604,000 after buying an additional 59,838 shares in the last quarter. Capital World Investors lifted its stake in MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after buying an additional 22,659 shares in the last quarter. Schroder Investment Management Group lifted its stake in MercadoLibre by 9.8% in the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock valued at $1,432,565,000 after buying an additional 50,893 shares in the last quarter. Finally, WCM Investment Management LLC lifted its stake in MercadoLibre by 0.4% in the 3rd quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after buying an additional 1,833 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.3%

MercadoLibre stock opened at $1,841.14 on Thursday. MercadoLibre, Inc. has a fifty-two week low of $1,593.21 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a 50 day moving average price of $1,756.86 and a 200 day moving average price of $1,968.42. The company has a market capitalization of $93.34 billion, a PE ratio of 46.73, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm had revenue of $8.76 billion during the quarter. Research analysts expect that MercadoLibre, Inc. will post 47.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and issued a $2,400.00 price target on shares of MercadoLibre in a research note on Friday, April 10th. Wedbush decreased their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Barclays decreased their price target on shares of MercadoLibre from $2,600.00 to $2,500.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their target price for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,685.33.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.