Algert Global LLC Makes New $293,000 Investment in MercadoLibre, Inc. $MELI

Key Points

• Algert Global LLC recently invested approximately $293,000 in MercadoLibre, Inc. by acquiring 150 shares.
• Several institutional investors are actively purchasing MercadoLibre shares, with 87.62% of the stock owned by hedge funds and other institutional investors.
• Wall Street analysts have set a consensus target price for MercadoLibre at approximately $2,817.22, reflecting a "Moderate Buy" rating overall.

Algert Global LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 150 shares of the company's stock, valued at approximately $293,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Key Financial Inc purchased a new position in MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre during the first quarter worth $25,000. Park Square Financial Group LLC purchased a new position in MercadoLibre during the fourth quarter worth $26,000. Close Asset Management Ltd boosted its stake in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter worth $32,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MELI. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Daiwa Capital Markets began coverage on MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price on the stock. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Barclays reduced their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,407.74 on Tuesday. The firm has a market cap of $122.07 billion, a P/E ratio of 59.47, a P/E/G ratio of 1.58 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock's fifty day moving average price is $2,410.39 and its 200-day moving average price is $2,280.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.48 EPS. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.

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