Beck Bode LLC Has $4.34 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Beck Bode LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,759 shares of the company’s stock after selling 166 shares during the period. Beck Bode LLC’s holdings in MercadoLibre were worth $4,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Synergy Financial Group LTD boosted its stake in shares of MercadoLibre by 0.5% in the 3rd quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock valued at $2,030,000 after purchasing an additional 8 shares in the last quarter. Gateway Advisory LLC boosted its position in MercadoLibre by 1.9% during the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock worth $545,000 after buying an additional 8 shares during the period. Contravisory Investment Management Inc. boosted its position in MercadoLibre by 6.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after buying an additional 8 shares during the period. Catalyst Capital Advisors LLC boosted its position in MercadoLibre by 32.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 37 shares of the company’s stock worth $47,000 after buying an additional 9 shares during the period. Finally, Blue Trust Inc. boosted its position in MercadoLibre by 56.3% during the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after buying an additional 9 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Susquehanna lifted their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Citigroup dropped their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Barclays dropped their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,790.36.

MercadoLibre Price Performance

Shares of MELI traded up $20.34 during midday trading on Tuesday, hitting $1,458.70. 547,882 shares of the company traded hands, compared to its average volume of 386,104. The stock has a 50-day moving average of $1,511.13 and a 200-day moving average of $1,535.71. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The firm has a market cap of $73.96 billion, a P/E ratio of 74.65, a PEG ratio of 0.94 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm’s revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.25 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 34.46 EPS for the current fiscal year.

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.