Mission Wealth Management LP Acquires 356 Shares of MercadoLibre, Inc. $MELI

Mission Wealth Management LP raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 167.9% during the fourth quarter, HoldingsChannel reports. The firm owned 568 shares of the company’s stock after acquiring an additional 356 shares during the quarter. Mission Wealth Management LP’s holdings in MercadoLibre were worth $1,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Weitz Investment Management Inc. bought a new position in MercadoLibre in the third quarter valued at about $8,647,000. Barlow Wealth Partners Inc. lifted its holdings in shares of MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after acquiring an additional 6,429 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of MercadoLibre by 14.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after purchasing an additional 10,849 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of MercadoLibre by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares in the last quarter. Finally, Donaldson Capital Management LLC boosted its stake in shares of MercadoLibre by 65.0% in the 3rd quarter. Donaldson Capital Management LLC now owns 2,678 shares of the company’s stock valued at $6,258,000 after purchasing an additional 1,055 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MELI. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Benchmark cut their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Finally, Scotiabank cut their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Up 0.6%

Shares of NASDAQ MELI opened at $1,594.86 on Wednesday. The company has a 50 day simple moving average of $1,727.23 and a 200 day simple moving average of $1,933.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The firm has a market cap of $80.86 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm earned $9.74 earnings per share. The company’s revenue was up 49.0% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current year.

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.