Investment House LLC Grows Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Investment House LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,711 shares of the company's stock after buying an additional 928 shares during the period. MercadoLibre makes up 1.4% of Investment House LLC's holdings, making the stock its 19th largest position. Investment House LLC's holdings in MercadoLibre were worth $25,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock worth $3,845,207,000 after buying an additional 70,154 shares during the period. FMR LLC raised its stake in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. State Street Corp lifted its position in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company's stock worth $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP grew its stake in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in MercadoLibre during the 4th quarter valued at about $565,306,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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MercadoLibre Price Performance

MELI stock traded up $27.70 during mid-day trading on Friday, reaching $2,095.27. 441,808 shares of the company's stock were exchanged, compared to its average volume of 363,609. 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, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The stock's 50 day moving average is $1,997.59 and its 200 day moving average is $1,970.80. The company has a market cap of $106.22 billion, a price-to-earnings ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) 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 firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. Bank of America lifted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a report on Friday, February 21st. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. Two investment 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. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $2,402.81.

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.