Meritage Portfolio Management Makes New $201,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Meritage Portfolio Management acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 128 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds have also modified their holdings of the stock. Pittenger & Anderson Inc. lifted its stake in MercadoLibre by 34.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 2,146 shares of the company’s stock worth $3,373,000 after acquiring an additional 545 shares during the last quarter. Lyell Wealth Management LP acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $314,000. Disciplined Equity Management Inc. purchased a new stake in shares of MercadoLibre during the 4th quarter worth $42,000. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of MercadoLibre by 3.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,105 shares of the company’s stock worth $1,737,000 after purchasing an additional 40 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in shares of MercadoLibre by 6.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,505 shares of the company’s stock worth $2,365,000 after purchasing an additional 95 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI opened at $1,406.00 on Friday. The company has a market capitalization of $71.28 billion, a price-to-earnings ratio of 71.96, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The firm has a 50-day simple moving average of $1,523.37 and a 200-day simple moving average of $1,528.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm’s revenue was up 42.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.25 earnings per share. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 34.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MELI. Citigroup decreased their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. UBS Group lowered their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

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.