Freedom Investment Management Inc. Sells 318 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Freedom Investment Management Inc. trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314 shares of the company's stock after selling 318 shares during the period. Freedom Investment Management Inc.'s holdings in MercadoLibre were worth $535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Human Investing LLC acquired a new position in MercadoLibre during the fourth quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. lifted its position in shares of MercadoLibre by 220.0% during the 4th 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 last quarter. Brown Lisle Cummings Inc. boosted its position in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd bought a new stake in shares of MercadoLibre during the fourth quarter worth about $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at $32,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 1.0 %

Shares of NASDAQ:MELI traded up $21.04 during midday trading on Friday, hitting $2,225.85. 283,044 shares of the stock traded hands, compared to its average volume of 426,471. 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 moving average is $2,047.82 and its two-hundred day moving average is $1,964.79. The stock has a market capitalization of $112.84 billion, a PE ratio of 59.04, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a one year low of $1,376.69 and a one year high of $2,374.54.

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

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald cut their price target on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Susquehanna increased their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of "Buy" and an average target price of $2,464.67.

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.