MercadoLibre, Inc. (NASDAQ:MELI) is INCA Investments LLC's 3rd Largest Position

INCA Investments LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,890 shares of the company's stock after acquiring an additional 331 shares during the quarter. MercadoLibre accounts for 13.3% of INCA Investments LLC's portfolio, making the stock its 3rd biggest holding. INCA Investments LLC's holdings in MercadoLibre were worth $29,048,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MELI. 1620 Investment Advisors Inc. lifted its holdings in shares of MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after acquiring an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its holdings in shares of MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co lifted its position in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after purchasing an additional 5 shares during the last quarter. Formidable Asset Management LLC lifted its holdings in MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its stake in shares of MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MELI. Barclays increased their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,472.05 on Thursday. MercadoLibre, Inc. has a twelve month low of $1,563.21 and a twelve month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The company has a market cap of $125.33 billion, a PE ratio of 60.80, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The company's 50 day moving average is $2,457.38 and its 200 day moving average is $2,123.28.

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

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