White Knight Strategic Wealth Advisors LLC Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

White Knight Strategic Wealth Advisors LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 96.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,626 shares of the company’s stock after purchasing an additional 798 shares during the quarter. MercadoLibre accounts for about 1.2% of White Knight Strategic Wealth Advisors LLC’s portfolio, making the stock its 22nd largest position. White Knight Strategic Wealth Advisors LLC’s holdings in MercadoLibre were worth $2,765,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Benchmark cut shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Citigroup reissued a “buy” rating on shares of MercadoLibre in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,521.33.

MercadoLibre Stock Down 0.3%

MercadoLibre stock opened at $2,578.35 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,610.30. The business has a fifty day moving average price of $2,146.51 and a 200-day moving average price of $2,003.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $130.71 billion, a price-to-earnings ratio of 68.39, a PEG ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued 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 business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the company earned $6.78 earnings per share. The company’s quarterly revenue was up 37.0% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.