Avalon Capital Management Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Avalon Capital Management purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 128 shares of the company's stock, valued at approximately $218,000.

A number of other institutional investors have also recently bought and sold shares of MELI. Planning Capital Management Corp lifted its stake in shares of MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company's stock worth $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its position in MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock valued at $293,000 after buying an additional 5 shares in the last quarter. Strategic Blueprint LLC raised its position in MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company's stock valued at $1,350,000 after purchasing an additional 6 shares during the last quarter. Nvwm LLC raised its holdings in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after buying an additional 6 shares during the last quarter. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of MercadoLibre by 3.7% during the third quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company's stock worth $407,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MELI shares. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday. Barclays boosted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday. New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald boosted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $2,364.06.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares of the company's stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

MercadoLibre Price Performance

MELI stock opened at $2,223.35 on Tuesday. The business has a 50 day simple moving average of $1,875.83 and a 200-day simple moving average of $1,960.50. The firm has a market capitalization of $112.72 billion, a PE ratio of 58.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.

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