Paragon Capital Management Inc. Has $2.12 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Paragon Capital Management Inc. cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 25.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,033 shares of the company’s stock after selling 349 shares during the quarter. MercadoLibre accounts for about 1.6% of Paragon Capital Management Inc.’s holdings, making the stock its 16th biggest holding. Paragon Capital Management Inc.’s holdings in MercadoLibre were worth $2,120,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MELI. First PREMIER Bank bought a new stake in shares of MercadoLibre in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $36,000. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the second quarter worth about $36,000. Finally, Quarry LP bought a new position in shares of MercadoLibre during the second quarter worth about $43,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI opened at $2,046.47 on Thursday. The business’s fifty day moving average is $2,026.84 and its 200 day moving average is $1,756.18. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market cap of $103.75 billion, a P/E ratio of 91.56, a P/E/G ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on MELI shares. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley upped their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. BTIG Research lifted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Barclays boosted their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,283.00.

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.