TCG Advisory Services LLC Takes $5.14 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

TCG Advisory Services LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,271 shares of the company’s stock, valued at approximately $5,141,000.

A number of other hedge funds also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC bought a new position in MercadoLibre during the fourth quarter worth about $28,000. Archer Investment Corp bought a new position in MercadoLibre in the 4th quarter worth approximately $31,000. Larson Financial Group LLC bought a new position in MercadoLibre in the 4th quarter worth approximately $36,000. Blue Trust Inc. grew its stake in MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after buying an additional 9 shares in the last quarter. Finally, Disciplined Equity Management Inc. bought a new stake in MercadoLibre during the 4th quarter valued at $42,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MELI shares. Susquehanna boosted their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Wedbush restated an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a research report on Friday. UBS Group lowered their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Barclays dropped their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their target price 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,805.00.

MercadoLibre Stock Up 8.3 %

MercadoLibre stock traded up $124.57 during mid-day trading on Friday, hitting $1,630.56. The company had a trading volume of 1,346,802 shares, compared to its average volume of 395,765. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The company has a market capitalization of $82.67 billion, a PE ratio of 72.96, a price-to-earnings-growth ratio of 1.09 and a beta of 1.45. The stock’s 50 day moving average price is $1,499.29 and its two-hundred day moving average price is $1,537.76. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the company posted $3.97 earnings per share. The company’s quarterly revenue was up 36.0% on a year-over-year basis. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 34.46 earnings per share for the current fiscal 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.