Stony Point Capital LLC Raises Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Stony Point Capital LLC increased its holdings in MercadoLibre, Inc. by 130.2% in the first quarter, now owning 6,649 shares valued at approximately $12.97 million.
• Market analysts have varied price targets for MercadoLibre, with Wedbush setting a target of $2,700 and Citigroup lowering its target to $2,850, while the average consensus price is around $2,817.22.
• The company reported a 33.8% increase in revenue year-over-year, with earnings per share of $10.31 missing the consensus estimate of $12.01.

Stony Point Capital LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 130.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,649 shares of the company's stock after purchasing an additional 3,761 shares during the quarter. Stony Point Capital LLC's holdings in MercadoLibre were worth $12,971,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter valued at $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre in the first quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at $26,000. Close Asset Management Ltd increased its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.0%

Shares of MELI stock traded up $0.62 on Monday, reaching $2,472.91. 292,481 shares of the stock were exchanged, compared to its average volume of 386,617. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock has a market cap of $125.38 billion, a P/E ratio of 61.07, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. The firm has a 50 day moving average of $2,413.70 and a two-hundred day moving average of $2,291.82. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.48 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MELI. Benchmark reaffirmed a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Scotiabank initiated coverage on MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.