Trivant Custom Portfolio Group LLC Grows Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Trivant Custom Portfolio Group LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 63.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 714 shares of the company's stock after purchasing an additional 276 shares during the period. Trivant Custom Portfolio Group LLC's holdings in MercadoLibre were worth $1,393,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors grew its position in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares during the period. Wealthfront Advisers LLC purchased a new stake in MercadoLibre during the fourth quarter worth about $565,306,000. Capital World Investors increased its stake in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Finally, Norges Bank bought a new position in MercadoLibre during the fourth quarter valued at $383,051,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 0.6%

NASDAQ MELI traded up $13.27 during trading on Thursday, reaching $2,402.75. 238,171 shares of the company's stock traded hands, compared to its average volume of 386,166. The company's 50 day simple moving average is $2,370.14 and its two-hundred day simple moving average is $2,082.46. MercadoLibre, Inc. has a 12-month low of $1,563.21 and a 12-month high of $2,635.88. The firm has a market cap of $121.82 billion, a price-to-earnings ratio of 59.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.78 EPS. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MELI. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.