Gavilan Investment Partners LLC Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Gavilan Investment Partners LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 31.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,200 shares of the company’s stock after acquiring an additional 3,900 shares during the period. MercadoLibre accounts for approximately 7.6% of Gavilan Investment Partners LLC’s holdings, making the stock its 5th largest position. Gavilan Investment Partners LLC’s holdings in MercadoLibre were worth $27,547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthfront Advisers LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth about $565,306,000. Norges Bank bought a new stake in MercadoLibre during the fourth quarter worth approximately $383,051,000. Strategic Financial Concepts LLC grew its holdings in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after purchasing an additional 181,849 shares during the last quarter. Wellington Management Group LLP raised its position in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of MercadoLibre in the third quarter worth $114,417,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 5.4 %

Shares of MELI stock opened at $1,841.29 on Friday. The firm has a fifty day moving average of $2,036.90 and a 200-day moving average of $1,967.86. The stock has a market cap of $93.35 billion, a price-to-earnings ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on MELI. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Cantor Fitzgerald increased their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Wedbush dropped their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.