Magellan Asset Management Ltd Takes $20.43 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Magellan Asset Management Ltd acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,016 shares of the company's stock, valued at approximately $20,432,000.

Several other large investors have also recently modified their holdings of the business. Thrivent Financial for Lutherans grew its stake in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company's stock worth $404,000 after acquiring an additional 21 shares during the last quarter. Paloma Partners Management Co increased its stake in MercadoLibre by 42.3% in the 3rd quarter. Paloma Partners Management Co now owns 279 shares of the company's stock worth $572,000 after acquiring an additional 83 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of MercadoLibre in the 3rd quarter worth $2,172,000. Holocene Advisors LP purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $5,118,000. Finally, Hilltop Holdings Inc. grew its stake in shares of MercadoLibre by 9.1% during the third quarter. Hilltop Holdings Inc. now owns 312 shares of the company's stock valued at $640,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent analyst reports. Cantor Fitzgerald lifted their target price 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. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $2,402.81.

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MercadoLibre Trading Down 5.4 %

Shares of NASDAQ MELI traded down $104.26 during trading on Friday, reaching $1,841.29. The company had a trading volume of 852,116 shares, compared to its average volume of 382,455. The stock has a market cap of $93.35 billion, a P/E ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.62. 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's fifty day moving average price is $2,036.90 and its 200-day moving average price is $1,967.86. 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 issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.