386 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 386 shares of the company’s stock, valued at approximately $584,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MELI. Vanguard Group Inc. boosted its stake in MercadoLibre by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after acquiring an additional 4,065 shares during the last quarter. SG Americas Securities LLC boosted its stake in MercadoLibre by 67.4% during the 4th quarter. SG Americas Securities LLC now owns 1,890 shares of the company’s stock worth $2,970,000 after acquiring an additional 761 shares during the last quarter. HB Wealth Management LLC bought a new position in MercadoLibre during the 4th quarter worth approximately $283,000. Salem Investment Counselors Inc. boosted its stake in MercadoLibre by 233.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 80 shares of the company’s stock worth $126,000 after acquiring an additional 56 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in MercadoLibre by 27.4% in the fourth quarter. Raymond James & Associates now owns 28,612 shares of the company’s stock valued at $44,965,000 after buying an additional 6,157 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MELI shares. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. UBS Group cut their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Barclays lifted their price target on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Citigroup cut their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,922.08.

MercadoLibre Stock Down 2.9 %

MELI traded down $49.68 during trading on Wednesday, reaching $1,642.55. 239,032 shares of the stock were exchanged, compared to its average volume of 365,909. The stock has a market cap of $83.28 billion, a P/E ratio of 73.73, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $1,825.00. The stock’s 50 day moving average price is $1,660.74 and its two-hundred day moving average price is $1,618.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.97 earnings per share. Equities analysts expect that MercadoLibre, Inc. will post 33.81 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.