Ashton Thomas Private Wealth LLC Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Ashton Thomas Private Wealth LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 255 shares of the company’s stock, valued at approximately $434,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Human Investing LLC purchased a new position in MercadoLibre in the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $32,000. Finally, Mather Group LLC. lifted its holdings in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after buying an additional 12 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MELI. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Susquehanna lifted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,944.61 on Tuesday. The stock 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. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The stock’s 50-day moving average price is $1,946.86 and its 200 day moving average price is $1,969.34. 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 (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.