Kestra Investment Management LLC Takes $65,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Kestra Investment Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38 shares of the company’s stock, valued at approximately $65,000.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Human Investing LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. lifted its position in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $32,000. Finally, Mather Group LLC. increased its holdings in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $2,260.00 on Friday. The company has a market capitalization of $114.58 billion, a P/E ratio of 79.75, a PEG ratio of 1.10 and a beta of 1.62. The company has a fifty day moving average price of $1,867.29 and a 200-day moving average price of $1,956.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. 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 earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. As a group, equities analysts expect that MercadoLibre, Inc. will post 32.98 EPS for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MELI. Cantor Fitzgerald lifted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Barclays boosted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, BTIG Research lowered their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,364.06.

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.