145 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Permanent Capital Management LP

Permanent Capital Management LP purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 145 shares of the company's stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Planning Capital Management Corp grew its position in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company's stock worth $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP grew its position in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after purchasing an additional 5 shares in the last quarter. Nvwm LLC grew its holdings in MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after buying an additional 6 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in MercadoLibre by 0.7% during the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock valued at $1,758,000 after buying an additional 7 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC grew its holdings in MercadoLibre by 17.9% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock valued at $78,000 after buying an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

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Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. Susquehanna raised their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Morgan Stanley cut their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Citigroup cut their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Finally, Barclays raised their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of "Buy" and an average price target of $2,402.81.

MercadoLibre Stock Down 1.8 %

NASDAQ MELI traded down $35.91 on Friday, reaching $2,009.34. 771,526 shares of the stock traded hands, compared to its average volume of 390,880. 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 company has a fifty day moving average price of $1,942.41 and a 200-day moving average price of $1,969.65. The company has a market cap of $101.87 billion, a price-to-earnings ratio of 53.30, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during 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, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.