First PREMIER Bank Takes $27,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

First PREMIER Bank acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, HoldingsChannel reports. The firm acquired 18 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds have also made changes to their positions in MELI. WCM Investment Management LLC increased its holdings in shares of MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after acquiring an additional 497,535 shares during the last quarter. Norges Bank purchased a new position in shares of MercadoLibre in the 4th quarter valued at about $554,386,000. Morgan Stanley boosted its position in shares of MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after purchasing an additional 236,744 shares during the period. International Assets Investment Management LLC boosted its position in shares of MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of MercadoLibre by 1,432.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MELI shares. Barclays upped their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Wedbush reissued an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a research report on Friday, May 3rd. Citigroup decreased their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and increased their price objective for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Finally, DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research 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 stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $1,881.92.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,582.86 on Tuesday. The company has a market cap of $80.25 billion, a price-to-earnings ratio of 70.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.60. The stock has a 50 day simple moving average of $1,594.69 and a 200-day simple moving average of $1,605.80. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.97 EPS. On average, equities analysts forecast that MercadoLibre, Inc. will post 33.81 EPS 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.