Masso Torrence Wealth Management Inc. Invests $234,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Masso Torrence Wealth Management Inc. acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 149 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors have also recently modified their holdings of the company. Morgan Stanley raised its position in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after acquiring an additional 236,744 shares in the last quarter. Jennison Associates LLC raised its position in MercadoLibre by 1.3% during the third quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock valued at $2,831,721,000 after acquiring an additional 28,095 shares in the last quarter. WCM Investment Management LLC raised its position in MercadoLibre by 74.8% during the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after acquiring an additional 497,535 shares in the last quarter. William Blair Investment Management LLC raised its position in MercadoLibre by 6.1% during the third quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock valued at $521,492,000 after acquiring an additional 23,699 shares in the last quarter. Finally, Invesco Ltd. raised its position in MercadoLibre by 10.2% during the third quarter. Invesco Ltd. now owns 365,176 shares of the company’s stock valued at $462,999,000 after acquiring an additional 33,801 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on MELI. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research report on Tuesday. Susquehanna raised their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Wedbush reissued an “outperform” rating and issued a $2,000.00 price objective on shares of MercadoLibre in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, Barclays dropped their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,804.64.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded up $29.20 during trading on Tuesday, reaching $1,397.43. The stock had a trading volume of 302,436 shares, compared to its average volume of 385,901. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The business has a fifty day moving average price of $1,552.54 and a 200-day moving average price of $1,528.67. The stock has a market cap of $70.85 billion, a PE ratio of 70.02, a PEG ratio of 0.87 and a beta of 1.44. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the business posted $3.25 EPS. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 35.77 earnings per share for the current fiscal 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.