Alta Capital Management LLC Has $32.55 Million Stock Holdings in MercadoLibre, Inc. $MELI

Alta Capital Management LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,162 shares of the company’s stock after selling 2,641 shares during the quarter. MercadoLibre makes up 2.2% of Alta Capital Management LLC’s holdings, making the stock its 17th biggest holding. Alta Capital Management LLC’s holdings in MercadoLibre were worth $32,554,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the second quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of MercadoLibre during the third quarter worth about $35,000. Cullen Frost Bankers Inc. raised its position in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after acquiring an additional 8 shares during the last quarter. Finally, Holos Integrated Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth about $32,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MELI shares. Morgan Stanley lowered their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. Finally, Barclays lowered their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Trading Up 2.5%

Shares of MELI stock opened at $1,585.91 on Tuesday. The company has a market cap of $80.40 billion, a P/E ratio of 41.86, a PEG ratio of 0.95 and a beta of 1.41. The stock has a 50 day simple moving average of $1,731.09 and a two-hundred day simple moving average of $1,938.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22.

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

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.