461 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Miller Financial Services LLC

Miller Financial Services LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 461 shares of the company’s stock, valued at approximately $784,000.

Other hedge funds also recently bought and sold shares of the company. Human Investing LLC bought a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its holdings in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC bought a new stake in MercadoLibre during the fourth quarter valued at about $32,000. Finally, Mather Group LLC. boosted its holdings in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on MELI. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Bank of America increased their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Barclays increased their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald increased their target price 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, February 21st. Two research 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, MercadoLibre currently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,944.61 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $98.59 billion, a PE ratio of 51.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The firm has a 50-day moving average price of $1,946.86 and a 200 day moving average price of $1,969.34.

MercadoLibre (NASDAQ:MELI) last posted its quarterly 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 firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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.