Allworth Financial LP Acquires 348 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Allworth Financial LP raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 102.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 687 shares of the company's stock after purchasing an additional 348 shares during the quarter. Allworth Financial LP's holdings in MercadoLibre were worth $1,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MELI. Pacific Capital Wealth Advisors Inc. lifted its holdings in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. lifted its holdings in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $32,000. Mather Group LLC. lifted its holdings 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 purchasing an additional 12 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of MercadoLibre by 120.0% during the fourth quarter. Grove Bank & Trust now owns 22 shares of the company's stock valued at $37,000 after buying an additional 12 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

MercadoLibre Stock Up 6.9 %

MELI traded up $144.69 during trading on Friday, reaching $2,255.16. The stock had a trading volume of 920,597 shares, compared to its average volume of 360,013. The stock's 50 day moving average is $1,858.57 and its two-hundred day moving average is $1,952.94. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $114.34 billion, a price-to-earnings ratio of 79.51, a P/E/G ratio of 1.10 and a beta of 1.62. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts expect that MercadoLibre, Inc. will post 32.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MELI shares. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday. Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Finally, Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $2,364.06.

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.