Summit Trail Advisors LLC Invests $211,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Summit Trail Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 108 shares of the company's stock, valued at approximately $211,000.

A number of other hedge funds have also bought and sold shares of the business. Prospect Financial Services LLC lifted its holdings in shares of MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after acquiring an additional 100 shares during the last quarter. JARISLOWSKY FRASER Ltd increased its position in shares of MercadoLibre by 43.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after acquiring an additional 987 shares during the period. Avant Financial Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at about $316,000. Blue Sky Capital Consultants Group Inc. purchased a new position in shares of MercadoLibre in the fourth quarter valued at about $2,500,000. Finally, Alta Capital Management LLC increased its position in shares of MercadoLibre by 97.9% during the first quarter. Alta Capital Management LLC now owns 14,728 shares of the company's stock valued at $28,732,000 after buying an additional 7,284 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI traded up $34.98 during trading on Friday, hitting $2,507.03. The company's stock had a trading volume of 194,179 shares, compared to its average volume of 389,022. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22. The firm has a market cap of $127.11 billion, a PE ratio of 61.66, a P/E/G ratio of 1.49 and a beta of 1.49. The business's 50 day simple moving average is $2,469.05 and its 200-day simple moving average is $2,135.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's quarterly revenue was up 37.0% on a year-over-year basis. During the same period last year, the firm earned $6.78 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Barclays upped their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.