Physician Wealth Advisors Inc. Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Physician Wealth Advisors Inc. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, Holdings Channel reports. The fund bought 68 shares of the company’s stock, valued at approximately $115,000.

Other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC bought a new position in MercadoLibre in the fourth quarter valued at approximately $565,306,000. Norges Bank bought a new position in shares of MercadoLibre in the 4th quarter worth $383,051,000. Strategic Financial Concepts LLC grew its stake in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after purchasing an additional 181,849 shares during the period. Wellington Management Group LLP increased its holdings in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in MercadoLibre in the third quarter valued at about $114,417,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 2.3 %

Shares of NASDAQ:MELI opened at $2,048.07 on Monday. The stock has a market capitalization of $103.83 billion, a PE ratio of 54.33, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company’s 50-day moving average price is $2,028.39 and its two-hundred day moving average price is $1,973.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion during 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%. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Susquehanna upped their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Raymond James upgraded 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.