Masso Torrence Wealth Management Inc. Invests $234,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Masso Torrence Wealth Management Inc. acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 149 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Synergy Financial Group LTD raised its stake in MercadoLibre by 0.5% during the 3rd quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock worth $2,030,000 after buying an additional 8 shares during the period. Gateway Advisory LLC raised its stake in shares of MercadoLibre by 1.9% in the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock worth $545,000 after purchasing an additional 8 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of MercadoLibre by 6.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after purchasing an additional 8 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of MercadoLibre by 32.1% in the third quarter. Catalyst Capital Advisors LLC now owns 37 shares of the company’s stock worth $47,000 after purchasing an additional 9 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after purchasing an additional 9 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MELI shares. Wedbush reissued an “outperform” rating and issued a $2,000.00 price objective on shares of MercadoLibre in a research note on Tuesday, March 5th. Citigroup lowered their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. UBS Group decreased their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Susquehanna increased their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,804.64.

MercadoLibre Trading Up 2.1 %

Shares of NASDAQ MELI traded up $29.20 during midday trading on Tuesday, reaching $1,397.43. The company had a trading volume of 302,436 shares, compared to its average volume of 385,901. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average price is $1,552.54 and its 200-day moving average price is $1,528.67. The stock has a market cap of $70.85 billion, a PE ratio of 70.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the firm posted $3.25 EPS. The company’s revenue was up 42.0% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 35.77 earnings per share for the current 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.