IFG Advisors LLC Invests $203,000 in MercadoLibre, Inc. (NASDAQ:MELI)

IFG Advisors LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 104 shares of the company's stock, valued at approximately $203,000.

Several other hedge funds also recently modified their holdings of MELI. Capital Research Global Investors raised its position in shares of MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after buying an additional 179,807 shares in the last quarter. Capital International Investors grew its stake in shares of MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Capital World Investors lifted its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after buying an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $2,370,848,000 after buying an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of MercadoLibre by 0.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock valued at $927,239,000 after purchasing an additional 2,048 shares during the period. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MELI shares. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Susquehanna increased their target price 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. Barclays raised their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,572.86.

MercadoLibre Trading Up 1.2%

Shares of NASDAQ MELI traded up $30.15 during midday trading on Monday, hitting $2,593.44. 260,620 shares of the company traded hands, compared to its average volume of 382,218. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a 50-day moving average price of $2,233.35 and a 200 day moving average price of $2,040.57. The firm has a market cap of $131.48 billion, a P/E ratio of 68.79, a P/E/G ratio of 1.12 and a beta of 1.61.

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 business 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%. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.78 earnings per share. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.