MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Global Endowment Management LP

Global Endowment Management LP cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 843 shares of the company's stock after selling 147 shares during the quarter. Global Endowment Management LP's holdings in MercadoLibre were worth $1,433,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wealthfront Advisers LLC purchased a new position in MercadoLibre in the 4th quarter valued at $565,306,000. Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $383,051,000. Strategic Financial Concepts LLC lifted its position in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock worth $309,405,000 after buying an additional 181,849 shares in the last quarter. Marshall Wace LLP boosted its position in shares of MercadoLibre by 183.9% during the 4th quarter. Marshall Wace LLP now owns 151,234 shares of the company's stock valued at $257,164,000 after acquiring an additional 97,955 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its position in MercadoLibre by 130.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company's stock worth $131,747,000 after purchasing an additional 43,836 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. Barclays raised their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Benchmark started coverage on MercadoLibre in a research note on Tuesday, April 15th. They issued a "buy" rating and a $2,500.00 price objective for the company. JPMorgan Chase & Co. upped their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Finally, Wedbush lowered their target price 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. Two equities research 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, MercadoLibre currently has an average rating of "Buy" and a consensus target price of $2,415.94.

MercadoLibre Trading Up 4.5 %

MELI stock traded up $92.99 on Tuesday, hitting $2,149.42. 111,135 shares of the company were exchanged, compared to its average volume of 428,290. The stock has a market capitalization of $108.97 billion, a price-to-earnings ratio of 57.01, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The business's fifty day moving average is $2,044.08 and its two-hundred day moving average is $1,960.73. MercadoLibre, Inc. has a twelve month low of $1,341.00 and a twelve month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data 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 return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.