NorthStar Asset Management LLC NJ Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

NorthStar Asset Management LLC NJ bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 129 shares of the company’s stock, valued at approximately $252,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Black Swift Group LLC increased its position in MercadoLibre by 252.9% during the first quarter. Black Swift Group LLC now owns 1,500 shares of the company’s stock worth $2,926,000 after acquiring an additional 1,075 shares during the period. AE Wealth Management LLC boosted its stake in MercadoLibre by 14.4% during the first quarter. AE Wealth Management LLC now owns 207 shares of the company’s stock worth $404,000 after buying an additional 26 shares in the last quarter. IMA Advisory Services Inc. boosted its stake in MercadoLibre by 1.3% during the first quarter. IMA Advisory Services Inc. now owns 1,440 shares of the company’s stock worth $2,809,000 after buying an additional 19 shares in the last quarter. Triumph Capital Management boosted its stake in MercadoLibre by 6.9% during the first quarter. Triumph Capital Management now owns 450 shares of the company’s stock worth $878,000 after buying an additional 29 shares in the last quarter. Finally, Close Asset Management Ltd boosted its stake in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MELI shares. Susquehanna reiterated a “positive” rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research report on Monday, June 2nd. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,639.69.

MercadoLibre Stock Up 0.4%

Shares of NASDAQ:MELI opened at $2,394.43 on Thursday. The company has a market capitalization of $121.39 billion, a PE ratio of 58.89, a PEG ratio of 1.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The company has a 50 day moving average price of $2,484.25 and a two-hundred day moving average price of $2,193.98. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the previous year, the firm posted $6.78 earnings per share. The business’s revenue was up 37.0% on a year-over-year basis. Analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre 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.