Hardy Reed LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Hardy Reed LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 125 shares of the company's stock, valued at approximately $213,000.

A number of other hedge funds have also recently made changes to their positions in MELI. Human Investing LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. raised its position in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter valued at approximately $32,000. Finally, Mather Group LLC. boosted its position in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MELI shares. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Barclays upped their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Buy" and an average target price of $2,364.06.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

MELI stock traded up $149.53 during mid-day trading on Friday, hitting $2,260.00. The company had a trading volume of 1,256,768 shares, compared to its average volume of 371,354. The company has a 50-day moving average price of $1,858.57 and a 200 day moving average price of $1,952.94. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a market capitalization of $114.58 billion, a price-to-earnings ratio of 79.75, a P/E/G ratio of 1.10 and a beta of 1.62. 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 (NASDAQ:MELI - Get Free Report) last posted its 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. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, research analysts anticipate that MercadoLibre, Inc. will post 32.98 earnings per share for the current 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.