Voleon Capital Management LP Acquires Shares of 2,438 MercadoLibre, Inc. (NASDAQ:MELI)

Voleon Capital Management LP bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,438 shares of the company's stock, valued at approximately $4,146,000.

Other institutional investors also recently modified their holdings of the company. Human Investing LLC acquired a new position in MercadoLibre in the 4th quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. grew its holdings in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake 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 bought a new position in MercadoLibre in the 4th quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth approximately $32,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 0.6 %

NASDAQ:MELI traded down $13.83 during trading hours on Friday, reaching $2,280.69. The company had a trading volume of 352,927 shares, compared to its average volume of 383,168. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market cap of $115.62 billion, a price-to-earnings ratio of 60.50, a P/E/G ratio of 1.12 and a beta of 1.62. The business's 50-day simple moving average is $2,061.51 and its two-hundred day simple moving average is $1,973.85.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MELI shares. Barclays raised their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Finally, Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday. 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 MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,464.67.

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.