Oak Grove Capital LLC Invests $3.85 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Oak Grove Capital LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,261 shares of the company’s stock, valued at approximately $3,845,000. MercadoLibre comprises about 0.6% of Oak Grove Capital LLC’s portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Human Investing LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. raised its holdings in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the fourth quarter worth $32,000. Finally, Mather Group LLC. increased its position in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.5 %

Shares of NASDAQ MELI opened at $2,059.87 on Wednesday. The stock has a market capitalization of $104.43 billion, a PE ratio of 54.64, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The stock’s fifty day simple moving average is $1,923.09 and its two-hundred day simple moving average is $1,968.76.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Barclays raised their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Finally, BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of “Buy” and a consensus target price of $2,402.81.

About MercadoLibre

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.