HighPoint Advisor Group LLC Invests $595,000 in MercadoLibre, Inc. (NASDAQ:MELI)

HighPoint Advisor Group LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 384 shares of the company’s stock, valued at approximately $595,000.

Several other hedge funds have also recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new position in MercadoLibre during the fourth quarter worth $36,777,000. PNC Financial Services Group Inc. increased its position in MercadoLibre by 21.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,937 shares of the company’s stock worth $12,473,000 after buying an additional 1,418 shares during the last quarter. Leo Wealth LLC acquired a new position in MercadoLibre during the fourth quarter worth $490,000. Vanguard Group Inc. increased its position in MercadoLibre by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock worth $286,636,000 after buying an additional 3,577 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in MercadoLibre by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 164,016 shares of the company’s stock worth $257,758,000 after buying an additional 3,756 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a report on Tuesday, April 23rd. Barclays upped their price target on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, Wedbush restated an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,881.92.

MercadoLibre Stock Up 0.9 %

Shares of MELI opened at $1,573.40 on Wednesday. The stock has a market cap of $79.77 billion, a price-to-earnings ratio of 70.40, a P/E/G ratio of 1.14 and a beta of 1.60. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The company has a 50-day moving average price of $1,584.78 and a two-hundred day moving average price of $1,605.82.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.97 earnings per share. Equities analysts predict that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

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.