Sagespring Wealth Partners LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Sagespring Wealth Partners LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 203 shares of the company's stock, valued at approximately $345,000.

A number of other hedge funds have also recently modified their holdings of MELI. Human Investing LLC purchased a new stake in MercadoLibre in the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 8 shares during the last quarter. Covestor Ltd bought a new position in shares of MercadoLibre during the fourth quarter valued at $27,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $32,000. Institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MELI shares. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Benchmark started coverage on MercadoLibre in a research report on Tuesday, April 15th. They issued a "buy" rating and a $2,500.00 price objective on the stock. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Susquehanna boosted their target price on 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $2,415.94.

MercadoLibre Price Performance

Shares of MELI traded down $28.34 during trading hours on Monday, reaching $2,071.04. 50,299 shares of the stock traded hands, compared to its average volume of 430,184. The company has a market cap of $105.00 billion, a P/E ratio of 54.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company's 50-day moving average price is $2,043.29 and its two-hundred day moving average price is $1,960.06. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

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