Fox Run Management L.L.C. Purchases Shares of 1,889 MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Fox Run Management L.L.C. invested $3.69 million in MercadoLibre, acquiring 1,889 shares and making it the firm's 5th largest holding, representing about 0.6% of its portfolio.
• MercadoLibre reported earnings of $10.31 per share, missing estimates, but its revenue of $6.79 billion exceeded expectations, marking a 33.8% year-over-year increase.
• A majority of analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with an average price target of $2,795.00 for the stock.

Fox Run Management L.L.C. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,889 shares of the company's stock, valued at approximately $3,685,000. MercadoLibre accounts for about 0.6% of Fox Run Management L.L.C.'s portfolio, making the stock its 5th biggest holding.

Other hedge funds have also bought and sold shares of the company. Bank Pictet & Cie Europe AG bought a new position in MercadoLibre in the 4th quarter valued at about $561,000. Treasurer of the State of North Carolina grew its holdings in shares of MercadoLibre by 139.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 599 shares of the company's stock valued at $1,019,000 after purchasing an additional 349 shares during the last quarter. Covestor Ltd bought a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $27,000. Sagespring Wealth Partners LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $345,000. Finally, Mariner LLC grew its holdings in shares of MercadoLibre by 4.9% during the 4th quarter. Mariner LLC now owns 6,007 shares of the company's stock valued at $10,216,000 after purchasing an additional 279 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 3.1%

Shares of MercadoLibre stock traded up $72.50 during trading on Friday, reaching $2,392.30. 411,196 shares of the company traded hands, compared to its average volume of 358,763. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a 50 day moving average price of $2,414.57 and a 200-day moving average price of $2,261.37. The firm has a market capitalization of $121.28 billion, a PE ratio of 59.08, a P/E/G ratio of 1.52 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (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 company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the firm earned $10.48 EPS. The firm's revenue was up 33.8% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus price target of $2,795.00.

MercadoLibre 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.