Scarborough Advisors LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Scarborough Advisors LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Turtle Creek Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth about $28,000. Archer Investment Corp bought a new stake in shares of MercadoLibre during the 4th quarter worth about $31,000. Larson Financial Group LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth about $36,000. DSM Capital Partners LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $36,000. Finally, Blue Trust Inc. raised its holdings in shares of MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after purchasing an additional 9 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MELI shares. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Citigroup dropped their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,881.92.

MercadoLibre Stock Performance

Shares of MELI opened at $1,573.40 on Wednesday. The company’s 50 day moving average price is $1,584.78 and its 200 day moving average price is $1,605.82. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a market capitalization of $79.77 billion, a PE ratio of 70.40, a PEG ratio of 1.16 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

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