Balboa Wealth Partners Takes $281,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Balboa Wealth Partners acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 179 shares of the company’s stock, valued at approximately $281,000.

Several other large investors also recently made changes to their positions in the business. Wealthspire Advisors LLC boosted its position in shares of MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after purchasing an additional 7 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of MercadoLibre by 1.2% during the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after purchasing an additional 7 shares in the last quarter. Gateway Advisory LLC boosted its position in shares of MercadoLibre by 1.9% during the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after purchasing an additional 8 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in MercadoLibre by 6.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after buying an additional 8 shares in the last quarter. Finally, Vestor Capital LLC lifted its stake in 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 buying an additional 8 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.0 %

NASDAQ:MELI traded up $0.14 during mid-day trading on Thursday, reaching $1,736.92. The stock had a trading volume of 132,730 shares, compared to its average volume of 394,166. The business’s 50 day moving average is $1,539.48 and its 200 day moving average is $1,583.96. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The stock has a market cap of $88.06 billion, a P/E ratio of 77.71, a PEG ratio of 1.29 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $3.97 earnings per share. The firm’s revenue was up 36.0% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on MELI. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Citigroup reduced their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday, April 23rd. Finally, Susquehanna upped their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,881.92.

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.