Clear Creek Financial Management LLC Purchases Shares of 109 MercadoLibre, Inc. (NASDAQ:MELI)

Clear Creek Financial Management 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 fund purchased 109 shares of the company's stock, valued at approximately $213,000.

A number of other large investors have also recently made changes to their positions in MELI. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth about $26,000. Covestor Ltd purchased a new position in shares of MercadoLibre during the 4th quarter worth about $27,000. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth about $32,000. VSM Wealth Advisory LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after buying an additional 15 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.4%

Shares of MELI traded up $34.98 during mid-day trading on Friday, hitting $2,507.03. The company's stock had a trading volume of 194,179 shares, compared to its average volume of 389,022. The company's 50-day moving average is $2,469.05 and its 200-day moving average is $2,135.88. MercadoLibre, Inc. has a 52-week low of $1,579.78 and a 52-week high of $2,645.22. The firm has a market capitalization of $127.11 billion, a price-to-earnings ratio of 61.66, a PEG ratio of 1.49 and a beta of 1.49. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.78 EPS. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on MELI. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Susquehanna reissued a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,645.94.

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.