DnB Asset Management AS Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

DnB Asset Management AS lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 44,192 shares of the company's stock after acquiring an additional 2,744 shares during the period. DnB Asset Management AS owned approximately 0.09% of MercadoLibre worth $75,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Human Investing LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in MercadoLibre by 220.0% during the 4th 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 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 bought a new stake in MercadoLibre in the fourth quarter valued at $32,000. Finally, Mather Group LLC. raised its holdings in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock worth $32,000 after purchasing an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI traded down $40.98 on Tuesday, hitting $1,909.90. The stock had a trading volume of 273,098 shares, compared to its average volume of 375,250. 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 cap of $96.83 billion, a price-to-earnings ratio of 50.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. 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 business's 50-day simple moving average is $2,030.68 and its two-hundred day simple moving average is $1,972.33.

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MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (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 analyst estimates of $5.94 billion. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MELI. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and raised their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Wedbush decreased their target price on shares of 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. Finally, Barclays boosted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, MercadoLibre currently has a consensus rating of "Buy" and an average target price of $2,402.81.

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.