Bellecapital International Ltd. Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Bellecapital International Ltd. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,665 shares of the company's stock after purchasing an additional 1,047 shares during the period. MercadoLibre accounts for approximately 3.2% of Bellecapital International Ltd.'s investment portfolio, making the stock its 12th biggest position. Bellecapital International Ltd.'s holdings in MercadoLibre were worth $18,135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Strategic Financial Concepts LLC lifted its holdings in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after buying an additional 181,849 shares during the period. FMR LLC lifted its stake in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. Wellington Management Group LLP boosted its position in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Swedbank AB grew its stake in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company's stock worth $193,137,000 after purchasing an additional 73,336 shares during the period. Finally, Jennison Associates LLC increased its holdings in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock worth $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Up 2.6 %

NASDAQ MELI traded up $52.90 on Wednesday, reaching $2,112.77. The company had a trading volume of 333,009 shares, compared to its average volume of 382,063. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company's fifty day moving average is $1,923.09 and its 200 day moving average is $1,968.76. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The stock has a market capitalization of $107.11 billion, a P/E ratio of 56.04, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research analyst reports. Cantor Fitzgerald increased their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Bank of America increased their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Barclays upped their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. 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 company's stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of "Buy" and an average 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.