Fortis Capital Management LLC Acquires 543 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Fortis Capital Management LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 22.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,912 shares of the company's stock after acquiring an additional 543 shares during the quarter. Fortis Capital Management LLC's holdings in MercadoLibre were worth $4,952,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MELI. Wealthfront Advisers LLC acquired a new stake in MercadoLibre during the fourth quarter worth $565,306,000. Strategic Financial Concepts LLC grew its holdings in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock worth $309,405,000 after purchasing an additional 181,849 shares during the last quarter. FMR LLC increased its position in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. Wellington Management Group LLP raised its position in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after acquiring an additional 73,336 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Remove Ads

MercadoLibre Stock Up 2.7 %

Shares of MELI stock traded up $56.99 on Tuesday, reaching $2,191.30. 429,185 shares of the company were exchanged, compared to its average volume of 363,563. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a 50-day moving average of $2,005.48 and a 200-day moving average of $1,971.33. The company has a market cap of $111.09 billion, a price-to-earnings ratio of 58.12, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Susquehanna upped their price target 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Buy" and an average target price of $2,402.81.

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.