Blue Sky Capital Consultants Group Inc. Invests $2.50 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Blue Sky Capital Consultants Group Inc. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,470 shares of the company's stock, valued at approximately $2,500,000. MercadoLibre accounts for approximately 1.5% of Blue Sky Capital Consultants Group Inc.'s investment portfolio, making the stock its 20th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Formidable Asset Management LLC grew its holdings in shares of MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of MercadoLibre in the 4th quarter valued at $16,338,000. Vega Investment Solutions acquired a new position in shares of MercadoLibre in the 4th quarter valued at $842,000. Sunbelt Securities Inc. grew its holdings in shares of MercadoLibre by 20.0% in the 4th quarter. Sunbelt Securities Inc. now owns 210 shares of the company's stock valued at $362,000 after buying an additional 35 shares during the period. Finally, Brown Shipley& Co Ltd grew its holdings in shares of MercadoLibre by 5.6% in the 4th quarter. Brown Shipley& Co Ltd now owns 131 shares of the company's stock valued at $223,000 after buying an additional 7 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 1.9%

MercadoLibre stock traded up $47.34 during midday trading on Tuesday, hitting $2,555.17. 265,931 shares of the stock were exchanged, compared to its average volume of 382,975. MercadoLibre, Inc. has a 52-week low of $1,550.00 and a 52-week high of $2,635.88. The stock has a market capitalization of $129.54 billion, a price-to-earnings ratio of 67.78, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The business's 50-day moving average price is $2,198.84 and its 200-day moving average price is $2,023.31. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $5.55 billion. During the same period in the previous year, the company earned $6.78 earnings per share. The company's quarterly revenue was up 37.0% on a year-over-year basis. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research reports. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. Barclays increased their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have assigned 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 company has a consensus rating of "Moderate Buy" and an average target price of $2,572.86.

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.