Korea Investment CORP Buys 2,986 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Korea Investment CORP raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,360 shares of the company's stock after buying an additional 2,986 shares during the quarter. Korea Investment CORP owned about 0.09% of MercadoLibre worth $80,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Human Investing LLC acquired a new position in MercadoLibre during the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. grew its stake in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $32,000. Finally, Mather Group LLC. increased its stake in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

MELI stock traded down $47.78 during midday trading on Friday, reaching $2,048.07. 326,428 shares of the company's stock traded hands, compared to its average volume of 374,317. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a market cap of $103.83 billion, a price-to-earnings ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a 50-day simple moving average of $2,028.39 and a two-hundred day simple moving average of $1,974.17.

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MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MELI. Wedbush lowered their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Barclays raised their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Finally, Susquehanna boosted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. Two investment 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 stock presently has a consensus rating of "Buy" and an average target price of $2,402.81.

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.