Balboa Wealth Partners Invests $281,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Balboa Wealth Partners bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 179 shares of the company’s stock, valued at approximately $281,000.

Other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in MercadoLibre by 99.3% in the third quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after buying an additional 26,679 shares in the last quarter. Townsquare Capital LLC boosted its stake in MercadoLibre by 0.9% in the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after buying an additional 14 shares in the last quarter. Vestor Capital LLC boosted its stake in MercadoLibre by 10.0% in the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after buying an additional 8 shares in the last quarter. Vanguard Group Inc. boosted its stake in MercadoLibre by 2.3% in the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after buying an additional 4,065 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after buying an additional 146,034 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.0 %

Shares of MELI traded up $0.14 during mid-day trading on Thursday, reaching $1,736.92. 132,730 shares of the company were exchanged, compared to its average volume of 394,166. The stock has a market capitalization of $88.06 billion, a PE ratio of 77.71, a PEG ratio of 1.29 and a beta of 1.45. The business has a 50 day simple moving average of $1,539.48 and a two-hundred day simple moving average of $1,583.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.97 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MELI shares. UBS Group reduced their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Susquehanna lifted their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Barclays lifted their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

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.