198 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Wallace Advisory Group LLC

Wallace Advisory Group LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 198 shares of the company's stock, valued at approximately $386,000.

Several other hedge funds have also recently added to or reduced their stakes in MELI. Oppenheimer & Co. Inc. increased its holdings in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after purchasing an additional 143 shares in the last quarter. Ninety One North America Inc. bought a new position in shares of MercadoLibre in the fourth quarter valued at about $4,923,000. Paragon Capital Management Inc. lifted its position in MercadoLibre by 58.5% during the 4th quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company's stock worth $2,784,000 after buying an additional 604 shares in the last quarter. Vinland Capital Management Gestora de Recursos LTDA. acquired a new stake in MercadoLibre in the 4th quarter valued at about $63,613,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of MercadoLibre in the fourth quarter worth about $2,619,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI traded up $8.82 on Tuesday, reaching $2,602.26. The company had a trading volume of 268,757 shares, compared to its average volume of 381,769. The stock has a market cap of $131.93 billion, a P/E ratio of 69.03, a P/E/G ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88. The company's fifty day moving average is $2,243.72 and its 200 day moving average is $2,045.56.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping 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 51.89% and a net margin of 9.20%. The firm's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period last year, the firm posted $6.78 EPS. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MELI. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Barclays increased their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $2,572.86.

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.