MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Alta Capital Management LLC

Alta Capital Management LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 97.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,728 shares of the company's stock after acquiring an additional 7,284 shares during the quarter. MercadoLibre makes up 1.9% of Alta Capital Management LLC's portfolio, making the stock its 25th biggest holding. Alta Capital Management LLC's holdings in MercadoLibre were worth $28,732,000 as of its most recent filing with the Securities & Exchange Commission.

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

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,402.75 on Friday. MercadoLibre, Inc. has a 1-year low of $1,563.21 and a 1-year high of $2,635.88. The business has a 50-day moving average of $2,379.52 and a 200-day moving average of $2,085.56. 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 company has a market capitalization of $121.82 billion, a price-to-earnings ratio of 59.09, a PEG ratio of 1.34 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping 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 company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the business earned $6.78 earnings per share. The company's revenue was up 37.0% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MELI shares. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,632.50.

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.

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