Sawtooth Solutions LLC Acquires New Holdings in Mercadolibre Inc (NASDAQ:MELI)

Sawtooth Solutions LLC acquired a new position in Mercadolibre Inc (NASDAQ:MELI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 479 shares of the company’s stock, valued at approximately $243,000.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Group Wealth Management LLC bought a new stake in shares of Mercadolibre in the first quarter valued at approximately $28,000. Icon Wealth Partners LLC bought a new position in Mercadolibre in the first quarter worth $32,000. Shine Investment Advisory Services Inc. bought a new position in Mercadolibre in the first quarter worth $34,000. Carroll Financial Associates Inc. lifted its position in Mercadolibre by 59.5% in the first quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock worth $34,000 after purchasing an additional 25 shares during the period. Finally, Capital Investment Advisory Services LLC lifted its position in Mercadolibre by 76.4% in the first quarter. Capital Investment Advisory Services LLC now owns 97 shares of the company’s stock worth $49,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

MELI traded up $9.91 during midday trading on Wednesday, reaching $623.21. 8,945 shares of the company were exchanged, compared to its average volume of 646,896. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.34. Mercadolibre Inc has a one year low of $257.52 and a one year high of $634.00. The stock has a market cap of $30.73 billion, a P/E ratio of -762.49 and a beta of 1.84.

Mercadolibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The firm had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $423.19 million. During the same quarter last year, the business earned ($0.29) earnings per share. The company’s revenue was up 47.7% compared to the same quarter last year. As a group, equities analysts forecast that Mercadolibre Inc will post 1.16 EPS for the current year.

Several research analysts recently commented on the company. BTIG Research cut Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 target price for the company. in a research report on Tuesday, June 4th. BidaskClub cut Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Zacks Investment Research raised Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 target price for the company in a research report on Friday, May 10th. Bank of America reaffirmed a “buy” rating and issued a $600.00 target price on shares of Mercadolibre in a research report on Wednesday, April 3rd. Finally, HSBC lowered Mercadolibre from a “buy” rating to a “hold” rating and set a $512.99 price objective for the company. in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $500.08.

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About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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