Hollencrest Capital Management Purchases 13 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Hollencrest Capital Management lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 52.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38 shares of the company’s stock after buying an additional 13 shares during the period. Hollencrest Capital Management’s holdings in MercadoLibre were worth $62,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. First PREMIER Bank acquired a new position in MercadoLibre during the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. DSM Capital Partners LLC bought a new position in MercadoLibre in the fourth quarter valued at $36,000. Scarborough Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. bought a new stake in MercadoLibre during the 2nd quarter worth about $36,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays upped their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, Morgan Stanley increased their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,207.31.

MercadoLibre Stock Down 0.3 %

MercadoLibre stock opened at $2,103.75 on Friday. The company’s 50-day moving average price is $1,899.17 and its two-hundred day moving average price is $1,690.40. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market cap of $106.65 billion, a P/E ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.16 earnings per share. As a group, analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current year.

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.