9,340 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by Spear Holdings RSC Ltd

Spear Holdings RSC Ltd purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,340 shares of the company's stock, valued at approximately $18,221,000. MercadoLibre accounts for 1.4% of Spear Holdings RSC Ltd's portfolio, making the stock its 13th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in MercadoLibre in the 4th quarter valued at $26,000. Covestor Ltd acquired a new position in MercadoLibre in the 4th quarter valued at $27,000. Heck Capital Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after buying an additional 15 shares in the last quarter. Finally, VSM Wealth Advisory LLC acquired a new position in MercadoLibre in the 4th quarter valued at $37,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays increased their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group increased their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Price Performance

NASDAQ:MELI traded up $34.98 during trading hours on Friday, hitting $2,507.03. The company's stock had a trading volume of 194,179 shares, compared to its average volume of 389,022. The stock has a fifty day simple moving average of $2,469.05 and a 200-day simple moving average of $2,135.88. The company has a market capitalization of $127.11 billion, a P/E ratio of 61.66, a PEG ratio of 1.49 and a beta of 1.49. 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, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period last year, the company earned $6.78 earnings per share. The firm's revenue was up 37.0% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.