Atika Capital Management LLC Purchases 179 Shares of MercadoLibre, Inc. $MELI

Key Points

• Atika Capital Management LLC increased its stake in MercadoLibre by 2.3%, owning a total of 7,929 shares, which account for approximately 2.2% of their portfolio.
• MercadoLibre's stock has received overwhelmingly positive ratings from analysts, with an average target price set at $2,817.22.
• In its latest quarterly earnings, MercadoLibre reported a revenue of $6.79 billion, exceeding analyst expectations, but earnings per share fell short of projections.

Atika Capital Management LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,929 shares of the company's stock after purchasing an additional 179 shares during the quarter. MercadoLibre comprises approximately 2.2% of Atika Capital Management LLC's investment portfolio, making the stock its 12th largest position. Atika Capital Management LLC's holdings in MercadoLibre were worth $15,468,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc bought a new position in MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre in the 1st quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $26,000. Close Asset Management Ltd increased its stake in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 4.0%

MELI stock traded up $93.18 during midday trading on Friday, reaching $2,430.62. 436,058 shares of the company's stock traded hands, compared to its average volume of 369,414. The company has a market cap of $123.23 billion, a price-to-earnings ratio of 60.03, a P/E/G ratio of 1.58 and a beta of 1.46. The firm's fifty day moving average price is $2,411.33 and its 200-day moving average price is $2,275.89. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

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 analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter last year, the firm posted $10.48 EPS. The business's revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on MELI shares. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

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.