MercadoLibre, Inc. (NASDAQ:MELI) is Old Well Partners LLC’s 2nd Largest Position

Old Well Partners LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,848 shares of the company’s stock after buying an additional 200 shares during the quarter. MercadoLibre makes up about 12.5% of Old Well Partners LLC’s holdings, making the stock its 2nd biggest holding. Old Well Partners LLC’s holdings in MercadoLibre were worth $6,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Human Investing LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its position in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in shares of MercadoLibre in the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth $32,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.2%

Shares of NASDAQ MELI opened at $2,504.61 on Tuesday. The firm’s 50-day moving average price is $2,089.82 and its 200-day moving average price is $1,984.71. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,520.00. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $126.98 billion, a price-to-earnings ratio of 66.44, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the firm earned $6.78 EPS. The firm’s revenue for the quarter was up 37.0% compared to the same quarter last year. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Susquehanna lifted 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 note on Friday, February 21st. Finally, StockNews.com upgraded MercadoLibre from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,504.67.

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.