Allstate Corp purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,357 shares of the company's stock, valued at approximately $2,307,000.
A number of other hedge funds have also made changes to their positions in the stock. Human Investing LLC bought a new position in MercadoLibre during the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. raised its position in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its holdings in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $32,000. Finally, Mather Group LLC. boosted its position in shares of MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on MELI. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Susquehanna boosted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Barclays boosted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $2,402.81.
Get Our Latest Report on MercadoLibre
MercadoLibre Stock Down 1.8 %
NASDAQ MELI traded down $35.87 on Tuesday, reaching $1,915.00. The stock had a trading volume of 682,422 shares, compared to its average volume of 376,757. 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 1 year low of $1,324.99 and a 1 year high of $2,374.54. The business has a 50 day moving average price of $2,030.68 and a 200 day moving average price of $1,972.33. The company has a market capitalization of $97.08 billion, a price-to-earnings ratio of 50.80, a P/E/G ratio of 1.12 and a beta of 1.64.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.
MercadoLibre Company Profile
(
Free Report)
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.
Further Reading
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
