Bestgate Wealth Advisors LLC Takes $379,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Bestgate Wealth Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 223 shares of the company’s stock, valued at approximately $379,000.

Other hedge funds have also modified their holdings of the company. Human Investing LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at $32,000. Finally, Mather Group LLC. raised its stake in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 4.9 %

Shares of NASDAQ MELI opened at $2,002.80 on Wednesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The firm has a fifty day moving average of $1,977.75 and a 200-day moving average of $1,969.35. The stock has a market capitalization of $101.54 billion, a PE ratio of 53.12, a P/E/G ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MELI. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Bank of America raised their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Barclays raised their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

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.