AssuredPartners Investment Advisors LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

AssuredPartners Investment Advisors LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 707 shares of the company's stock, valued at approximately $1,202,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Human Investing LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. lifted its holdings in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its stake 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 acquiring an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $32,000. Finally, Mather Group LLC. boosted its position in 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 acquiring an additional 12 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MELI shares. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Barclays boosted their price target 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. Wedbush decreased their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Susquehanna upped their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research note 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $2,402.81.

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MercadoLibre Stock Down 2.3 %

Shares of MELI traded down $47.78 during midday trading on Friday, reaching $2,048.07. The stock had a trading volume of 326,428 shares, compared to its average volume of 374,317. The company's fifty day simple moving average is $2,028.39 and its two-hundred day simple moving average is $1,974.17. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market cap of $103.83 billion, a price-to-earnings ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.