BayBridge Capital Group LLC Makes New $226,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

BayBridge Capital Group LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 116 shares of the company's stock, valued at approximately $226,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Human Investing LLC acquired a new position in MercadoLibre in the 4th quarter worth $26,000. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $32,000. Finally, VSM Wealth Advisory LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $3.16 on Friday, hitting $2,371.98. The company had a trading volume of 341,577 shares, compared to its average volume of 386,370. The business has a 50-day simple moving average of $2,340.95 and a 200-day simple moving average of $2,074.58. 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 company has a market cap of $120.25 billion, a PE ratio of 62.92, a PEG ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm's quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.78 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several research reports. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Wall Street Zen upgraded shares of MercadoLibre from a "hold" rating to a "buy" rating in a research note on Saturday. Cantor Fitzgerald dropped their price objective 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. Susquehanna increased their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.

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.