Los Angeles Capital Management LLC Buys 2,499 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Los Angeles Capital Management LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 102.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,943 shares of the company's stock after purchasing an additional 2,499 shares during the quarter. Los Angeles Capital Management LLC's holdings in MercadoLibre were worth $9,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Key Financial Inc purchased a new position in MercadoLibre during the first quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in MercadoLibre during the fourth quarter valued at $26,000. Covestor Ltd purchased a new position in MercadoLibre during the fourth quarter valued at $27,000. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the fourth quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in MercadoLibre by 375.0% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

MercadoLibre stock traded down $41.08 during mid-day trading on Friday, reaching $2,349.97. 114,602 shares of the stock traded hands, compared to its average volume of 392,619. The business's 50-day moving average is $2,480.35 and its 200-day moving average is $2,198.06. MercadoLibre, Inc. has a 12-month low of $1,579.78 and a 12-month high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $119.14 billion, a PE ratio of 58.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the previous year, the company posted $6.78 earnings per share. MercadoLibre's revenue for the quarter was up 37.0% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Finally, Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,639.69.

MercadoLibre Company 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.