Sora Investors LLC Buys New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sora Investors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,288 shares of the company’s stock, valued at approximately $7,291,000.

Other hedge funds also recently made changes to their positions in the company. Human Investing LLC acquired a new position in MercadoLibre in the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in 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 purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares during the last quarter. Covestor Ltd purchased a new position in shares of MercadoLibre during the 4th quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,586.49 on Friday. The business’s 50-day simple moving average is $2,123.15 and its 200-day simple moving average is $1,996.02. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,610.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $131.13 billion, a price-to-earnings ratio of 68.61, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. MercadoLibre’s revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.78 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Finally, Barclays raised their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,521.33.

MercadoLibre 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.