WESPAC Advisors LLC Takes $211,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

WESPAC Advisors LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 108 shares of the company's stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Prospect Financial Services LLC grew its position in shares of MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after purchasing an additional 100 shares in the last quarter. Stratos Investment Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter worth approximately $203,000. JARISLOWSKY FRASER Ltd grew its position in shares of MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after purchasing an additional 987 shares in the last quarter. Avant Financial Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $316,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $2,500,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Susquehanna restated a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Barclays increased their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

MercadoLibre Price Performance

NASDAQ:MELI traded down $14.65 on Friday, hitting $2,387.45. The company had a trading volume of 341,673 shares, compared to its average volume of 389,303. The stock has a market capitalization of $121.04 billion, a price-to-earnings ratio of 58.72, a PEG ratio of 1.42 and a beta of 1.49. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $2,486.03 and a two-hundred day moving average of $2,161.17. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.78 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.