Alta Park Capital LP Acquires 511 Shares of MercadoLibre, Inc. $MELI

Alta Park Capital LP raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% during the fourth quarter, Holdings Channel reports. The firm owned 7,714 shares of the company’s stock after purchasing an additional 511 shares during the period. MercadoLibre comprises 1.9% of Alta Park Capital LP’s portfolio, making the stock its 26th largest holding. Alta Park Capital LP’s holdings in MercadoLibre were worth $15,538,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC lifted its position in shares of MercadoLibre by 35.7% in the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Interchange Capital Partners LLC lifted its position in shares of MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares during the period. Cornerstone Select Advisors LLC lifted its position in shares of MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after purchasing an additional 5 shares during the period. Mitchell Capital Management Co. lifted its position in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after purchasing an additional 5 shares during the period. Finally, Strategic Advisors LLC lifted its position in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock worth $2,564,000 after purchasing an additional 5 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of recent analyst reports. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. UBS Group dropped their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Down 2.5%

MercadoLibre stock opened at $1,631.82 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The firm’s fifty day moving average is $1,711.90 and its 200 day moving average is $1,864.64. The company has a market capitalization of $82.73 billion, a PE ratio of 43.07, a PEG ratio of 1.03 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the firm earned $9.74 EPS. The firm’s revenue was up 49.0% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

About MercadoLibre

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.