Fidelis Capital Partners LLC Makes New $737,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Fidelis Capital Partners LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 378 shares of the company's stock, valued at approximately $737,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. grew its holdings in MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after acquiring an additional 5 shares during the period. Texas Yale Capital Corp. boosted its position in MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after purchasing an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its position in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after purchasing an additional 5 shares in the last quarter. Formidable Asset Management LLC boosted its position in MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares in the last quarter. Finally, Revolve Wealth Partners LLC boosted its position in MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MELI. Susquehanna reiterated a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Finally, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,645.94.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,387.45 on Friday. The business's 50-day moving average price is $2,486.03 and its 200 day moving average price is $2,158.29. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22. The company has a market capitalization of $121.04 billion, a PE ratio of 58.72, a price-to-earnings-growth ratio of 1.43 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 released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the business posted $6.78 earnings per share. The firm's revenue for the quarter was up 37.0% compared to the same quarter last year. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.

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