Greenland Capital Management LP Sells 3,281 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Greenland Capital Management LP lessened its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 59.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,253 shares of the company's stock after selling 3,281 shares during the period. Greenland Capital Management LP's holdings in MercadoLibre were worth $3,831,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. EP Wealth Advisors LLC raised its holdings in MercadoLibre by 47.9% during the 3rd quarter. EP Wealth Advisors LLC now owns 216 shares of the company's stock worth $443,000 after buying an additional 70 shares during the period. National Bank of Canada FI lifted its position in MercadoLibre by 142.2% in the 3rd quarter. National Bank of Canada FI now owns 16,521 shares of the company's stock valued at $33,900,000 after acquiring an additional 9,699 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in MercadoLibre by 1.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 812 shares of the company's stock valued at $1,666,000 after acquiring an additional 14 shares in the last quarter. MML Investors Services LLC boosted its stake in MercadoLibre by 2.0% in the 3rd quarter. MML Investors Services LLC now owns 4,379 shares of the company's stock worth $8,986,000 after purchasing an additional 87 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after purchasing an additional 780 shares during the period. Institutional investors own 87.62% of the company's stock.

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MercadoLibre Stock Performance

Shares of MELI traded up $62.96 during mid-day trading on Friday, reaching $1,996.95. The company's stock had a trading volume of 358,711 shares, compared to its average volume of 388,054. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The business has a 50-day simple moving average of $2,036.16 and a two-hundred day simple moving average of $1,957.92. The stock has a market cap of $101.24 billion, a P/E ratio of 52.97, a PEG ratio of 1.12 and a beta of 1.62.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Susquehanna upped their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Bank of America raised their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a report on Thursday. Barclays raised their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $2,409.69.

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.