BI Asset Management Fondsmaeglerselskab A S Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 416.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,583 shares of the company's stock after purchasing an additional 18,214 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in MercadoLibre were worth $38,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Human Investing LLC purchased a new stake in MercadoLibre in the 4th quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. raised its holdings in shares of 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 buying an additional 11 shares during the period. Brown Lisle Cummings Inc. raised its holdings in shares of 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 buying an additional 8 shares during the period. Covestor Ltd purchased a new position in MercadoLibre during the 4th quarter valued at $27,000. Finally, Heck Capital Advisors LLC bought a new position in MercadoLibre in the 4th quarter valued at $32,000. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MELI has been the subject of a number of research analyst reports. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. Morgan Stanley lowered their target price on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Cantor Fitzgerald dropped their price target on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wedbush decreased their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Finally, Barclays increased their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two research 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. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $2,415.94.

MercadoLibre Stock Up 0.5 %

NASDAQ MELI traded up $11.59 during trading on Wednesday, hitting $2,139.92. The company's stock had a trading volume of 330,660 shares, compared to its average volume of 385,393. MercadoLibre, Inc. has a fifty-two week low of $1,341.00 and a fifty-two week high of $2,374.54. The company has a market cap of $108.49 billion, a PE ratio of 56.76, a P/E/G ratio of 1.12 and a beta of 1.62. 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 business's 50 day simple moving average is $2,045.33 and its 200-day simple moving average is $1,961.90.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.94 billion. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.