IPG Investment Advisors LLC Makes New $518,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

IPG Investment Advisors LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 384 shares of the company’s stock, valued at approximately $518,000.

A number of other hedge funds have also bought and sold shares of the business. Harbor Investment Advisory LLC boosted its holdings in shares of MercadoLibre by 10.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 261 shares of the company’s stock worth $352,000 after buying an additional 25 shares during the period. ProShare Advisors LLC boosted its holdings in shares of MercadoLibre by 53.1% during the 4th quarter. ProShare Advisors LLC now owns 92,787 shares of the company’s stock worth $125,114,000 after buying an additional 32,165 shares during the period. Maplelane Capital LLC bought a new stake in shares of MercadoLibre during the 3rd quarter worth $8,733,000. Acorn Financial Advisory Services Inc. ADV boosted its holdings in shares of MercadoLibre by 6.9% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 339 shares of the company’s stock worth $457,000 after buying an additional 22 shares during the period. Finally, Bogart Wealth LLC boosted its holdings in shares of MercadoLibre by 35.3% during the 4th quarter. Bogart Wealth LLC now owns 2,003 shares of the company’s stock worth $2,701,000 after buying an additional 523 shares during the period. 79.61% of the stock is owned by institutional investors.

Shares of MercadoLibre stock opened at $811.44 on Friday. The stock has a market capitalization of $40.88 billion, a P/E ratio of 221.10 and a beta of 1.56. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.66. The company has a 50-day simple moving average of $1,005.81 and a 200 day simple moving average of $1,101.20. MercadoLibre, Inc. has a 12-month low of $640.00 and a 12-month high of $1,970.13.

MercadoLibre (NASDAQ:MELI – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.36). MercadoLibre had a return on equity of 21.93% and a net margin of 2.30%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 63.1% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 6.79 earnings per share for the current year.

MELI has been the subject of several research analyst reports. Bradesco Corretora upgraded shares of MercadoLibre from a “neutral” rating to an “outperform” rating in a research note on Friday, February 25th. Credit Suisse Group cut their target price on shares of MercadoLibre from $1,685.00 to $1,440.00 in a research note on Monday, May 2nd. Citigroup cut their target price on shares of MercadoLibre from $1,750.00 to $1,500.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. Susquehanna cut their target price on shares of MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating for the company in a research note on Wednesday, February 23rd. Finally, StockNews.com cut shares of MercadoLibre from a “hold” rating to a “sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $1,670.50.

In related news, Director Emiliano Calemzuk sold 75 shares of MercadoLibre stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $1,008.61, for a total transaction of $75,645.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Marcelo Melamud bought 55 shares of the company’s stock in a transaction on Monday, March 14th. The shares were bought at an average price of $881.82 per share, for a total transaction of $48,500.10. The disclosure for this purchase can be found here. Insiders bought a total of 205 shares of company stock worth $188,950 in the last ninety days. Insiders own 0.27% of the company’s stock.

MercadoLibre Profile (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.

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