Nellore Capital Management LLC Buys 9,000 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nellore Capital Management LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,508 shares of the company's stock after buying an additional 9,000 shares during the quarter. MercadoLibre comprises approximately 14.6% of Nellore Capital Management LLC's holdings, making the stock its 2nd largest position. Nellore Capital Management LLC owned approximately 0.13% of MercadoLibre worth $111,392,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Human Investing LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. lifted its holdings in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 8 shares during the period. Covestor Ltd acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 0.1%

NASDAQ:MELI traded down $1.57 during trading hours on Friday, hitting $2,584.92. 279,704 shares of the company's stock traded hands, compared to its average volume of 382,706. The firm has a market cap of $131.05 billion, a P/E ratio of 68.57, a P/E/G ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,610.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock's fifty day moving average price is $2,135.04 and its two-hundred day moving average price is $1,999.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the business earned $6.78 EPS. The business's quarterly revenue was up 37.0% on a year-over-year basis. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday. Bank of America upped their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Finally, New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and upped their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,521.33.

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.