WT Wealth Management Invests $222,000 in MercadoLibre, Inc. (NASDAQ:MELI)

WT Wealth Management acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 114 shares of the company's stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre in the fourth quarter worth $561,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of MercadoLibre by 25.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 839 shares of the company's stock valued at $1,427,000 after buying an additional 171 shares during the last quarter. TD Private Client Wealth LLC lifted its position in MercadoLibre by 32.0% in the fourth quarter. TD Private Client Wealth LLC now owns 66 shares of the company's stock valued at $112,000 after acquiring an additional 16 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in MercadoLibre in the fourth quarter valued at $26,187,000. Finally, Fortis Capital Management LLC increased its position in shares of MercadoLibre by 22.9% during the fourth quarter. Fortis Capital Management LLC now owns 2,912 shares of the company's stock worth $4,952,000 after purchasing an additional 543 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 1.4%

Shares of MercadoLibre stock traded down $34.51 on Monday, reaching $2,379.06. 249,119 shares of the company were exchanged, compared to its average volume of 388,406. The stock has a fifty day moving average price of $2,492.77 and a 200-day moving average price of $2,187.43. The firm has a market capitalization of $120.62 billion, a price-to-earnings ratio of 59.36, a price-to-earnings-growth ratio of 1.43 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. MercadoLibre, Inc. has a fifty-two week low of $1,579.78 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.78 EPS. On average, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Susquehanna reissued a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Barclays raised their target price 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, Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.