Stableford Capital II LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Stableford Capital II LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,986 shares of the company's stock after acquiring an additional 349 shares during the quarter. MercadoLibre comprises about 1.7% of Stableford Capital II LLC's portfolio, making the stock its 16th biggest position. Stableford Capital II LLC's holdings in MercadoLibre were worth $4,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors boosted its position in shares of 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 boosted its position in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth $565,306,000. Capital World Investors boosted its position in shares of MercadoLibre by 24.5% in 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 in the last quarter. Finally, Norges Bank acquired a new stake in shares of MercadoLibre in the 4th quarter worth $383,051,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MELI. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. 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. Wall Street Zen raised MercadoLibre from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,402.75 on Friday. The stock has a market cap of $121.82 billion, a PE ratio of 59.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The business has a 50-day simple moving average of $2,379.52 and a 200-day simple moving average of $2,085.56. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 52-week low of $1,563.21 and a 52-week high of $2,635.88.

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, beating the consensus estimate of $7.82 by $1.92. The business 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 company's revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.78 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.