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

Sunpointe LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 163 shares of the company's stock, valued at approximately $277,000.

Other hedge funds have also added to or reduced their stakes in the company. Human Investing LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in shares of 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 acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased its holdings in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after acquiring an additional 8 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. increased its holdings 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 acquiring an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $149.53 during trading on Friday, reaching $2,260.00. 1,256,768 shares of the stock traded hands, compared to its average volume of 371,354. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. 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 $1,858.57 and a 200-day moving average of $1,952.94. The stock has a market capitalization of $114.58 billion, a P/E ratio of 79.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62.

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 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 analyst estimates of $5.94 billion. Analysts forecast that MercadoLibre, Inc. will post 32.98 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent research reports. Barclays boosted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a report on Friday. Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday. Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday. Finally, Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Two equities research 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 stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Buy" and a consensus price target of $2,364.06.

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.