Kirtland Hills Capital Management LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Kirtland Hills Capital Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 343 shares of the company’s stock, valued at approximately $720,000.

A number of other hedge funds have also added to or reduced their stakes in MELI. Capital International Investors grew its stake in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after acquiring an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after acquiring an additional 405,425 shares in the last quarter. Capital World Investors grew its stake in MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Capital Research Global Investors grew its stake in MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after acquiring an additional 179,807 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in MercadoLibre by 170.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock worth $536,411,000 after acquiring an additional 173,449 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating on shares of MercadoLibre in a research note on Friday, June 6th. Barclays dropped their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Finally, Benchmark downgraded shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,690.29.

MercadoLibre Trading Down 0.4%

NASDAQ:MELI opened at $2,354.11 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The firm has a 50 day moving average of $2,471.41 and a 200 day moving average of $2,212.78. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $119.35 billion, a price-to-earnings ratio of 57.90, a PEG ratio of 1.40 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the prior year, the company posted $6.78 earnings per share. MercadoLibre’s revenue for the quarter was up 37.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.