Norden Group LLC Purchases New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Norden Group LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,104 shares of the company’s stock, valued at approximately $4,693,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC boosted its holdings in MercadoLibre by 0.9% during the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after buying an additional 14 shares during the last quarter. Vestor Capital LLC raised its position in shares of MercadoLibre by 10.0% during the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock worth $138,000 after purchasing an additional 8 shares during the period. Vanguard Group Inc. raised its position in shares of MercadoLibre by 2.3% during the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after purchasing an additional 4,065 shares during the period. Gulf International Bank UK Ltd raised its position in shares of MercadoLibre by 33.4% during the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after purchasing an additional 1,241 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.3 %

MELI stock opened at $1,591.44 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $1,625.37 and a two-hundred day moving average price of $1,607.13. The company has a market cap of $80.69 billion, a price-to-earnings ratio of 71.21, a P/E/G ratio of 1.17 and a beta of 1.60. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The firm 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 business’s revenue was up 36.0% compared to the same quarter last year. During the same period last year, the company earned $3.97 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. Barclays raised their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research report on Tuesday, April 23rd. Citigroup dropped their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,881.92.

About MercadoLibre

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.