MMA Asset Management LLC Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

MMA Asset Management LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 300 shares of the company’s stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Planning Capital Management Corp boosted its stake in MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the period. Mount Lucas Management LP boosted its stake in MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the period. Nvwm LLC boosted its stake in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares during the period. Perigon Wealth Management LLC boosted its stake in MercadoLibre by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after purchasing an additional 7 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its stake in MercadoLibre by 17.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,121.87 on Friday. The stock’s fifty day moving average is $1,909.95 and its two-hundred day moving average is $1,967.18. The company has a market capitalization of $107.57 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MELI. Bank of America upped their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup decreased their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, BTIG Research decreased their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Buy” and an average price target of $2,385.94.

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.