Alta Park Capital LP Has $15.54 Million Stake in MercadoLibre, Inc. $MELI

Alta Park Capital LP increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,714 shares of the company’s stock after acquiring an additional 511 shares during the period. MercadoLibre comprises about 1.9% of Alta Park Capital LP’s investment portfolio, making the stock its 26th biggest position. Alta Park Capital LP’s holdings in MercadoLibre were worth $15,538,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre during the second quarter worth approximately $29,000. Curio Wealth LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $30,000. Finally, Holos Integrated Wealth LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $32,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

MercadoLibre Price Performance

MELI stock opened at $1,631.82 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The firm has a market cap of $82.73 billion, a P/E ratio of 43.07, a P/E/G ratio of 1.03 and a beta of 1.36. The company’s 50-day moving average price is $1,711.90 and its two-hundred day moving average price is $1,864.64.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the business earned $9.74 earnings per share. MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MELI shares. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their price target for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. Finally, Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.