Kirtland Hills Capital Management LLC Purchases Shares of 343 MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Kirtland Hills Capital Management LLC has acquired a new stake in MercadoLibre, Inc. by purchasing 343 shares worth around $720,000.
• Several institutional investors have increased their stakes in MercadoLibre significantly, with 87.62% of the stock currently owned by institutional investors.
• Analysts maintain a generally positive outlook on MercadoLibre, with a consensus rating of "Moderate Buy" and a target price of approximately $2,690.29.

Kirtland Hills Capital Management LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 343 shares of the company's stock, valued at approximately $720,000.

A number of other large investors also recently bought and sold shares of the company. Prospect Financial Services LLC increased its holdings in shares of MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after purchasing an additional 100 shares in the last quarter. Stratos Investment Management LLC purchased a new position in shares of MercadoLibre in the 1st quarter valued at about $203,000. JARISLOWSKY FRASER Ltd increased its holdings in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after purchasing an additional 987 shares in the last quarter. Avant Financial Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $316,000. Finally, Blue Sky Capital Consultants Group Inc. purchased a new position in MercadoLibre during the 4th quarter valued at about $2,500,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MELI shares. Daiwa Capital Markets started coverage on shares of MercadoLibre in a report on Friday. They set a "buy" rating and a $3,000.00 target price for the company. Susquehanna restated a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,707.50.

MercadoLibre Trading Down 0.0%

Shares of MELI traded down $0.47 during mid-day trading on Friday, hitting $2,373.43. The company had a trading volume of 221,273 shares, compared to its average volume of 388,176. The business's 50-day simple moving average is $2,458.47 and its 200-day simple moving average is $2,219.50. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market cap of $120.33 billion, a PE ratio of 58.39, a P/E/G ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period last year, the company earned $6.78 earnings per share. The company's quarterly revenue was up 37.0% on a year-over-year basis. Sell-side analysts forecast 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.