Seven Eight Capital LP Purchases New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Seven Eight Capital LP purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 445 shares of the company’s stock, valued at approximately $587,000.

Other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of MercadoLibre by 185.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 20 shares of the company’s stock valued at $25,000 after purchasing an additional 13 shares during the period. NewSquare Capital LLC raised its stake in shares of MercadoLibre by 900.0% during the first quarter. NewSquare Capital LLC now owns 20 shares of the company’s stock valued at $26,000 after purchasing an additional 18 shares during the period. Sageworth Trust Co purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $30,000. Pacifica Partners Inc. purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $31,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,428.19 on Monday. The company’s 50-day moving average price is $1,255.12 and its two-hundred day moving average price is $1,247.19. The company has a current ratio of 1.28, a quick ratio of 1.25 and a debt-to-equity ratio of 1.10. The stock has a market cap of $71.54 billion, a PE ratio of 95.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $754.76 and a 52 week high of $1,451.56.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.13 by $1.03. MercadoLibre had a return on equity of 39.07% and a net margin of 6.23%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the company earned $2.43 EPS. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 20.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of MercadoLibre in a research report on Thursday, August 17th. They set a “hold” rating for the company. Barclays lifted their price objective on shares of MercadoLibre from $1,575.00 to $1,625.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Wolfe Research decreased their price objective on shares of MercadoLibre from $1,700.00 to $1,400.00 in a report on Monday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $1,700.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Finally, UBS Group boosted their price target on shares of MercadoLibre from $1,600.00 to $1,700.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,645.00.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.