Bestgate Wealth Advisors LLC Buys Shares of 223 MercadoLibre, Inc. (NASDAQ:MELI)

Bestgate Wealth Advisors LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 223 shares of the company's stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. VSM Wealth Advisory LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $37,000. Trillium Asset Management LLC lifted its holdings in shares of MercadoLibre by 82.0% in the 4th quarter. Trillium Asset Management LLC now owns 10,060 shares of the company's stock valued at $17,106,000 after acquiring an additional 4,533 shares during the last quarter. Xponance Inc. increased its position in MercadoLibre by 16.1% during the fourth quarter. Xponance Inc. now owns 2,533 shares of the company's stock valued at $4,307,000 after acquiring an additional 352 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of MercadoLibre during the 4th quarter worth approximately $4,712,000. Finally, Nikko Asset Management Americas Inc. grew its stake in MercadoLibre by 1.9% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 118,689 shares of the company's stock worth $201,816,000 after acquiring an additional 2,211 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Susquehanna raised their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Finally, Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of "Buy" and an average price target of $2,402.81.

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MercadoLibre Stock Up 1.3 %

Shares of NASDAQ MELI traded up $27.70 on Friday, hitting $2,095.27. The company had a trading volume of 441,808 shares, compared to its average volume of 363,609. The business has a 50 day moving average of $1,997.59 and a two-hundred day moving average of $1,970.80. The firm has a market capitalization of $106.22 billion, a P/E ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre 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.