HighTower Advisors LLC lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,255 shares of the company's stock after selling 710 shares during the quarter. HighTower Advisors LLC's holdings in MercadoLibre were worth $8,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in MELI. Mount Lucas Management LP increased its stake in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company's stock valued at $293,000 after purchasing an additional 5 shares in the last quarter. Nvwm LLC increased its stake in MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after purchasing an additional 6 shares in the last quarter. Perigon Wealth Management LLC increased its stake in MercadoLibre by 0.7% during the 4th 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 in the last quarter. GPS Wealth Strategies Group LLC increased its stake in MercadoLibre by 17.9% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock valued at $78,000 after purchasing an additional 7 shares in the last quarter. Finally, Savant Capital LLC increased its stake in MercadoLibre by 2.3% during the 4th quarter. Savant Capital LLC now owns 308 shares of the company's stock valued at $524,000 after purchasing an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.
MercadoLibre Price Performance
Shares of NASDAQ:MELI traded up $27.70 during midday trading on Friday, hitting $2,095.27. The company's stock had a trading volume of 440,742 shares, compared to its average volume of 363,770. The business's 50 day simple moving average is $1,990.86 and its 200 day simple moving average is $1,970.70. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market cap of $106.22 billion, a P/E ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. 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 posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping 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 firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. 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 research note on Tuesday, January 21st. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre has an average rating of "Buy" and an average target price of $2,402.81.
Check Out Our Latest Research Report on MELI
About MercadoLibre
(
Free Report)
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.
Featured Articles
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
