GM Advisory Group LLC Buys 589 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

GM Advisory Group LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 439.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 723 shares of the company’s stock after purchasing an additional 589 shares during the period. GM Advisory Group LLC’s holdings in MercadoLibre were worth $1,229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Investment House LLC grew its holdings in shares of MercadoLibre by 6.7% in the fourth quarter. Investment House LLC now owns 14,711 shares of the company’s stock worth $25,016,000 after purchasing an additional 928 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of MercadoLibre by 23.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,984 shares of the company’s stock worth $5,074,000 after purchasing an additional 574 shares during the last quarter. Bestgate Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $379,000. VSM Wealth Advisory LLC bought a new position in MercadoLibre during the 4th quarter worth about $37,000. Finally, Trillium Asset Management LLC grew its holdings in MercadoLibre by 82.0% during the 4th quarter. Trillium Asset Management LLC now owns 10,060 shares of the company’s stock worth $17,106,000 after acquiring an additional 4,533 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,002.80 on Wednesday. The firm has a market capitalization of $101.54 billion, a P/E ratio of 53.12, a PEG 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. The company has a 50 day moving average price of $1,977.75 and a 200 day moving average price of $1,969.35. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating 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%. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MELI. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Wedbush lowered their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Company 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.