Summit Trail Advisors LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Summit Trail Advisors LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 108 shares of the company's stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Covestor Ltd acquired a new stake in MercadoLibre during the 4th quarter valued at $27,000. Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter valued at $32,000. VSM Wealth Advisory LLC acquired a new stake in MercadoLibre during the 4th quarter valued at $37,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in MercadoLibre by 375.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after purchasing an additional 15 shares during the period. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MELI. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Susquehanna reissued a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Finally, Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Stock Up 1.4%

NASDAQ:MELI traded up $34.98 during trading hours on Friday, reaching $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 market cap of $127.11 billion, a price-to-earnings ratio of 61.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22. The business's 50-day moving average is $2,469.05 and its 200-day moving average is $2,139.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.78 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.