Guggenheim Capital LLC Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Guggenheim Capital LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,774 shares of the company's stock after buying an additional 182 shares during the period. Guggenheim Capital LLC's holdings in MercadoLibre were worth $21,721,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. 1620 Investment Advisors Inc. lifted its stake in MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after purchasing an additional 5 shares in the last quarter. Texas Yale Capital Corp. grew its holdings in MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after buying an additional 5 shares in the last quarter. Nvwm LLC raised its holdings in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock worth $1,933,000 after acquiring an additional 6 shares during the period. Perigon Wealth Management LLC grew its holdings in shares of MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock valued at $1,758,000 after purchasing an additional 7 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its position in MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock worth $78,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on MELI. The Goldman Sachs Group increased 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 note on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Barclays upped 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. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $2,415.94.

MercadoLibre Stock Up 1.7 %

Shares of NASDAQ:MELI traded up $35.00 on Friday, hitting $2,099.37. 250,624 shares of the company's stock were exchanged, compared to its average volume of 386,426. The firm's 50-day moving average is $2,042.00 and its 200 day moving average is $1,959.90. The company has a market capitalization of $106.43 billion, a PE ratio of 55.69, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. 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 (NASDAQ:MELI - Get Free Report) last issued 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 business had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current 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.