Entropy Technologies LP Invests $2.76 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Entropy Technologies LP acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,828 shares of the company’s stock, valued at approximately $2,764,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. O Dell Group LLC increased its position in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares during the last quarter. Wealthspire Advisors LLC lifted its position in MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after acquiring an additional 7 shares in the last quarter. Independent Advisor Alliance boosted its holdings in MercadoLibre by 1.2% in the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after acquiring an additional 7 shares during the period. Contravisory Investment Management Inc. grew its position in MercadoLibre by 6.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after acquiring an additional 8 shares in the last quarter. Finally, Vestor Capital LLC raised its stake in shares of MercadoLibre by 10.0% during the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their target price for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research note on Tuesday, April 23rd. Wedbush reissued an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. UBS Group dropped their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, Barclays increased their target price 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $1,922.08.

MercadoLibre Stock Performance

NASDAQ MELI traded down $50.34 during trading hours on Wednesday, reaching $1,670.09. The company’s stock had a trading volume of 377,983 shares, compared to its average volume of 371,185. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $1,662.70 and a 200 day simple moving average of $1,614.15. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $1,825.00. The stock has a market cap of $84.67 billion, a PE ratio of 74.72, a PEG ratio of 1.27 and a beta of 1.60.

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, topping the consensus estimate of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the business posted $3.97 EPS. The business’s revenue was up 36.0% on a year-over-year basis. Equities research analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

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.