Parvin Asset Management LLC Invests $927,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Parvin Asset Management LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 545 shares of the company's stock, valued at approximately $927,000. MercadoLibre makes up about 1.0% of Parvin Asset Management LLC's holdings, making the stock its 28th largest holding.

A number of other large investors have also recently added to or reduced their stakes in MELI. Human Investing LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing 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 purchasing an additional 8 shares in the last quarter. Covestor Ltd acquired a new stake in shares of MercadoLibre in the fourth quarter worth $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth about $32,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MELI shares. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday. Cantor Fitzgerald cut their price objective on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Finally, Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,464.67.

MercadoLibre Stock Performance

MercadoLibre stock traded down $13.83 during trading hours on Friday, reaching $2,280.69. 352,927 shares of the company were exchanged, compared to its average volume of 383,168. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average of $2,061.51 and a 200 day moving average of $1,973.85. The firm has a market cap of $115.62 billion, a price-to-earnings ratio of 60.50, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.