Promus Capital LLC Makes New $107,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Promus Capital LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 63 shares of the company’s stock, valued at approximately $107,000.

A number of other institutional investors have also recently bought and sold shares of MELI. Swedbank AB grew its holdings in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of MercadoLibre by 40.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 271 shares of the company’s stock valued at $556,000 after buying an additional 78 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of MercadoLibre by 8.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,989 shares of the company’s stock valued at $12,290,000 after buying an additional 477 shares during the period. QRG Capital Management Inc. acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $293,000. Finally, Impax Asset Management Group plc acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $3,661,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.6 %

Shares of NASDAQ:MELI opened at $2,112.77 on Thursday. The company’s 50-day moving average price is $1,930.48 and its two-hundred day moving average price is $1,969.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The stock has a market capitalization of $107.11 billion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping 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, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MELI. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Raymond James raised shares of 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. Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Wedbush cut their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Susquehanna boosted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.