GAMMA Investing LLC Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

GAMMA Investing LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 208,441.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,477 shares of the company's stock after buying an additional 60,448 shares during the period. GAMMA Investing LLC owned approximately 0.12% of MercadoLibre worth $117,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors raised its position in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after purchasing an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after buying an additional 405,425 shares during the period. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $565,306,000. Capital World Investors raised its holdings in shares of MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the period. Finally, Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $383,051,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,588.00.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $8.63 during mid-day trading on Thursday, reaching $2,582.59. 80,995 shares of the stock traded hands, compared to its average volume of 380,619. The business has a 50-day moving average of $2,264.36 and a 200 day moving average of $2,053.04. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88. The stock has a market capitalization of $130.93 billion, a PE ratio of 68.56, a PEG ratio of 1.12 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

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, beating analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business's revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.78 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.