Summitry LLC Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Summitry LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 50.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147 shares of the company’s stock after buying an additional 49 shares during the period. Summitry LLC’s holdings in MercadoLibre were worth $250,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Human Investing LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. raised its position in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. raised its position in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter valued at approximately $32,000. Finally, Mather Group LLC. grew its holdings in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Up 2.7 %

MELI opened at $2,191.30 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The firm has a 50 day moving average price of $2,014.23 and a 200 day moving average price of $1,972.78. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market cap of $111.09 billion, a PE ratio of 58.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. 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. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two investment 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. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and an average target price 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.