Stevens Capital Management LP Buys Shares of 178 MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Stevens Capital Management LP has purchased a new position in MercadoLibre, Inc., investing approximately $347,000 for 178 shares during the first quarter.
• MercadoLibre has received positive analyst ratings, with a consensus price target of $2,639.69 and most analysts rating it as a "Moderate Buy".
• The company reported $5.94 billion in revenue for its last quarter, exceeding estimates and reflecting a year-over-year 37% increase.

Stevens Capital Management LP acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 178 shares of the company's stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the first quarter worth $25,000. Close Asset Management Ltd boosted its stake in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at about $26,000. Finally, Covestor Ltd acquired a new position in MercadoLibre in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI traded up $9.15 on Wednesday, hitting $2,394.05. 63,151 shares of the stock were exchanged, compared to its average volume of 389,136. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The business's fifty day moving average is $2,467.53 and its 200 day moving average is $2,213.97. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The company has a market capitalization of $121.37 billion, a PE ratio of 58.86, a P/E/G ratio of 1.40 and a beta of 1.49.

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 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 business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the business earned $6.78 EPS. The firm's quarterly revenue was up 37.0% on a year-over-year basis. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on MELI shares. Scotiabank assumed coverage on MercadoLibre in a research note on Monday. They issued a "sector outperform" rating and a $3,500.00 price objective for the company. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Susquehanna reissued a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Barclays decreased their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $2,690.29.

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.