Alta Capital Management LLC Acquires 492 Shares of MercadoLibre, Inc. $MELI

Alta Capital Management LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,220 shares of the company’s stock after buying an additional 492 shares during the quarter. MercadoLibre makes up about 2.3% of Alta Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Alta Capital Management LLC’s holdings in MercadoLibre were worth $39,779,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Key Financial Inc bought a new stake in MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the first quarter worth approximately $25,000. Close Asset Management Ltd boosted its position in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Highline Wealth Partners LLC boosted its position in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna lowered their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday. Benchmark reissued a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Barclays lowered their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,810.88.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,048.35 on Thursday. The company has a market cap of $103.85 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 1.46 and a beta of 1.46. The firm’s fifty day moving average is $2,348.72 and its 200 day moving average is $2,345.35. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the company earned $10.48 EPS. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.