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

Mission Wealth Management LP raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 167.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568 shares of the company’s stock after purchasing 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.

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

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,594.86 on Wednesday. The company has a market cap of $80.86 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 0.98 and a beta of 1.41. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a fifty day moving average price of $1,727.23 and a 200-day moving average price of $1,933.17.

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

Analyst Upgrades and Downgrades

MELI has been the topic of several research reports. BTIG Research decreased their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wedbush lowered their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Benchmark dropped their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Company 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.