SPX Gestao de Recursos Ltda Invests $4.56 Million in MercadoLibre, Inc. (NASDAQ:MELI)

SPX Gestao de Recursos Ltda purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,680 shares of the company's stock, valued at approximately $4,557,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC raised its position in MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after buying an additional 181,849 shares during the last quarter. FMR LLC grew its stake 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 purchasing an additional 137,564 shares during the period. Wellington Management Group LLP grew its stake in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after purchasing an additional 120,922 shares during the period. Swedbank AB grew its stake in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after purchasing an additional 73,336 shares during the period. Finally, Jennison Associates LLC grew its stake in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after purchasing an additional 70,154 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MELI. New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Wedbush cut their price target on 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. Barclays raised their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group raised their target price 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. Finally, Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. 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 MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $2,402.81.

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MercadoLibre Trading Up 0.8 %

Shares of MELI stock traded up $16.19 during trading hours on Wednesday, reaching $2,006.30. The company's stock had a trading volume of 311,848 shares, compared to its average volume of 404,595. The stock has a market capitalization of $101.71 billion, a P/E ratio of 53.18, a P/E/G 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. The firm's fifty day simple moving average is $1,952.66 and its 200 day simple moving average is $1,969.27. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly 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 return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current 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.