117 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by Tcfg Wealth Management LLC

Tcfg Wealth Management LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 117 shares of the company's stock, valued at approximately $228,000.

A number of other hedge funds have also recently bought and sold shares of MELI. Empowered Funds LLC boosted its holdings in shares of MercadoLibre by 2.0% in the 4th quarter. Empowered Funds LLC now owns 711 shares of the company's stock valued at $1,209,000 after purchasing an additional 14 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company's stock valued at $524,000 after purchasing an additional 7 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre in the 4th quarter valued at $561,000. Rhumbline Advisers boosted its holdings in shares of MercadoLibre by 3.9% in the 4th quarter. Rhumbline Advisers now owns 9,928 shares of the company's stock valued at $16,882,000 after purchasing an additional 377 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its holdings in shares of MercadoLibre by 2.1% in the 4th quarter. Montag A & Associates Inc. now owns 385 shares of the company's stock valued at $655,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research analyst reports. Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Barclays lifted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised 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. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Finally, Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,632.50.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,371.98 on Monday. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,635.88. The company has a market capitalization of $120.25 billion, a price-to-earnings ratio of 62.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm's fifty day moving average price is $2,340.95 and its 200 day moving average price is $2,074.79.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the firm posted $6.78 EPS. The firm's quarterly revenue was up 37.0% on a year-over-year basis. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.

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