Spear Holdings RSC Ltd Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Spear Holdings RSC Ltd acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 9,340 shares of the company's stock, valued at approximately $18,221,000. MercadoLibre makes up approximately 1.4% of Spear Holdings RSC Ltd's investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. 1620 Investment Advisors Inc. raised its position 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 buying an additional 5 shares in the last quarter. Texas Yale Capital Corp. raised its position in shares of MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after buying an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its position in shares of MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after buying an additional 5 shares in the last quarter. Formidable Asset Management LLC raised its position in shares of MercadoLibre by 3.2% in 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 position in shares of MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Down 0.5%

MELI traded down $12.97 during trading on Monday, reaching $2,501.08. 311,383 shares of the company's stock were exchanged, compared to its average volume of 388,712. The firm has a fifty day moving average price of $2,469.05 and a two-hundred day moving average price of $2,139.17. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22. The stock has a market capitalization of $126.80 billion, a PE ratio of 61.51, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the firm posted $6.78 EPS. The company's quarterly revenue was up 37.0% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MELI. Susquehanna restated a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Barclays lifted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.

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.