Verus Capital Partners LLC Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Verus Capital Partners LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131 shares of the company’s stock after buying an additional 13 shares during the quarter. Verus Capital Partners LLC’s holdings in MercadoLibre were worth $223,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MELI. Human Investing LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. increased its position in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $32,000. Finally, Mather Group LLC. increased its position in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,121.87 on Friday. The firm has a market capitalization of $107.57 billion, a P/E ratio of 56.28, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-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. The business’s 50-day simple moving average is $1,909.95 and its 200-day simple moving average is $1,967.18.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.