Wambolt & Associates LLC Invests $207,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Wambolt & Associates LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 122 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of MercadoLibre by 6.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,602 shares of the company’s stock valued at $4,425,000 after acquiring an additional 148 shares during the last quarter. Prestige Wealth Management Group LLC raised its position in MercadoLibre by 20.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 88 shares of the company’s stock worth $150,000 after purchasing an additional 15 shares during the last quarter. TIAA Trust National Association lifted its holdings in MercadoLibre by 3,394.3% during the 4th quarter. TIAA Trust National Association now owns 8,037 shares of the company’s stock worth $13,666,000 after buying an additional 7,807 shares during the period. Interchange Capital Partners LLC increased its stake in shares of MercadoLibre by 30.1% in the fourth quarter. Interchange Capital Partners LLC now owns 173 shares of the company’s stock valued at $295,000 after buying an additional 40 shares during the period. Finally, Vanguard Group Inc. increased its position in MercadoLibre by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 205,628 shares of the company’s stock valued at $349,658,000 after purchasing an additional 2,900 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group raised their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Barclays boosted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,191.30 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $111.09 billion, a PE ratio of 58.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The stock’s fifty day simple moving average is $2,014.23 and its two-hundred day simple moving average is $1,972.78. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54.

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