Dorsey Wright & Associates Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Dorsey Wright & Associates decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,417 shares of the company's stock after selling 427 shares during the quarter. Dorsey Wright & Associates' holdings in MercadoLibre were worth $2,410,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. RWA Wealth Partners LLC boosted its position in shares of MercadoLibre by 9.0% during the fourth quarter. RWA Wealth Partners LLC now owns 242 shares of the company's stock valued at $412,000 after buying an additional 20 shares during the last quarter. Summit Securities Group LLC bought a new position in MercadoLibre during the 4th quarter valued at $83,000. Portland Global Advisors LLC boosted its holdings in MercadoLibre by 2.4% during the 4th quarter. Portland Global Advisors LLC now owns 3,040 shares of the company's stock worth $5,169,000 after acquiring an additional 70 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of MercadoLibre by 9.4% in the 4th quarter. Schroder Investment Management Group now owns 443,156 shares of the company's stock worth $753,560,000 after acquiring an additional 38,261 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock valued at $927,239,000 after purchasing an additional 2,048 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MELI shares. Barclays upped their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Finally, Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $2,402.81.

MercadoLibre Trading Up 0.4 %

Shares of MercadoLibre stock traded up $7.71 during midday trading on Thursday, reaching $1,941.74. 302,960 shares of the company's stock traded hands, compared to its average volume of 377,675. The stock has a 50 day moving average of $2,034.60 and a 200-day moving average of $1,970.61. The company has a market cap of $98.44 billion, a PE ratio of 51.51, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share 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 business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.