Lord Abbett & CO. LLC Has $165.28 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Lord Abbett & CO. LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,197 shares of the company's stock after selling 10,328 shares during the period. Lord Abbett & CO. LLC owned 0.19% of MercadoLibre worth $165,278,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Stonebridge Capital Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at approximately $202,000. Empire Financial Management Company LLC grew its stake in shares of MercadoLibre by 27.0% during the fourth quarter. Empire Financial Management Company LLC now owns 202 shares of the company's stock worth $343,000 after purchasing an additional 43 shares during the period. Integrated Wealth Concepts LLC lifted its stake in MercadoLibre by 4.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 755 shares of the company's stock valued at $1,284,000 after buying an additional 34 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in MercadoLibre by 857.3% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,110 shares of the company's stock worth $24,234,000 after buying an additional 12,636 shares during the last quarter. Finally, D1 Capital Partners L.P. bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $77,200,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI traded up $21.04 on Friday, reaching $2,225.85. The stock had a trading volume of 284,084 shares, compared to its average volume of 385,686. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market cap of $112.84 billion, a P/E ratio of 59.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The firm has a fifty day moving average of $2,050.36 and a two-hundred day moving average of $1,965.16. MercadoLibre, Inc. has a 1-year low of $1,419.86 and a 1-year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its 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 for 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, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on MELI. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Wedbush reduced their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Susquehanna boosted their price target 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. Finally, Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of "Buy" and a consensus target price of $2,464.67.

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.