Capital Group Private Client Services Inc. Sells 3,284 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Capital Group Private Client Services Inc. lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,221 shares of the company's stock after selling 3,284 shares during the quarter. Capital Group Private Client Services Inc. owned about 0.07% of MercadoLibre worth $59,891,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MELI. Human Investing LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. grew its stake 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 acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased 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. Covestor Ltd purchased a new stake in MercadoLibre in the 4th quarter worth $27,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $32,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.9 %

MELI traded up $19.22 during trading hours on Wednesday, reaching $2,147.55. 175,797 shares of the company's stock traded hands, compared to its average volume of 384,822. The firm has a 50-day moving average price of $2,045.33 and a 200 day moving average price of $1,961.90. The firm has a market capitalization of $108.87 billion, a PE ratio of 56.96, a PEG ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,341.00 and a 52-week high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on MELI shares. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Barclays upped 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. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Bank of America boosted 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $2,415.94.

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.