Matthews International Capital Management LLC Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Matthews International Capital Management LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 300.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,479 shares of the company's stock after acquiring an additional 1,110 shares during the period. MercadoLibre accounts for about 0.6% of Matthews International Capital Management LLC's investment portfolio, making the stock its 25th largest position. Matthews International Capital Management LLC's holdings in MercadoLibre were worth $2,885,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MELI. Premier Path Wealth Partners LLC boosted its stake in shares of MercadoLibre by 9.2% in the first quarter. Premier Path Wealth Partners LLC now owns 261 shares of the company's stock worth $510,000 after acquiring an additional 22 shares during the period. Institute for Wealth Management LLC. raised its stake in MercadoLibre by 3.3% during the 1st quarter. Institute for Wealth Management LLC. now owns 311 shares of the company's stock valued at $607,000 after purchasing an additional 10 shares during the period. Beacon Capital Management LLC lifted its holdings in MercadoLibre by 8.3% in the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after purchasing an additional 5 shares in the last quarter. Grandview Asset Management LLC bought a new position in MercadoLibre in the 1st quarter worth approximately $217,000. Finally, Dunhill Financial LLC grew its holdings in MercadoLibre by 140.0% during the 1st quarter. Dunhill Financial LLC now owns 24 shares of the company's stock valued at $47,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of MercadoLibre from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Barclays boosted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,632.50.

MercadoLibre Trading Up 0.0%

MELI stock traded up $0.36 during mid-day trading on Friday, reaching $2,403.11. 145,810 shares of the stock traded hands, compared to its average volume of 385,244. MercadoLibre, Inc. has a one year low of $1,563.21 and a one year high of $2,635.88. The stock has a market capitalization of $121.84 billion, a PE ratio of 59.13, a PEG ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The business has a 50-day moving average price of $2,379.52 and a two-hundred day moving average price of $2,085.56.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm's revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.78 EPS. Equities research analysts expect 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.