Main Street Research LLC Grows Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Main Street Research LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 117.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,022 shares of the company's stock after buying an additional 8,099 shares during the period. Main Street Research LLC's holdings in MercadoLibre were worth $25,544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MELI. Strategic Financial Concepts LLC lifted its stake in shares of MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after buying an additional 181,849 shares in the last quarter. FMR LLC raised its holdings in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the period. Wellington Management Group LLP lifted its position in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Swedbank AB boosted its holdings in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company's stock worth $193,137,000 after acquiring an additional 73,336 shares during the period. Finally, Jennison Associates LLC grew its position in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent analyst reports. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Wedbush cut their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Finally, Susquehanna lifted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Two 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. According to MarketBeat.com, MercadoLibre currently has an average rating of "Buy" and a consensus price target of $2,402.81.

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MercadoLibre Price Performance

MELI stock opened at $2,009.34 on Monday. The firm has a market cap of $101.87 billion, a P/E ratio of 53.30, a P/E/G ratio of 1.12 and a beta of 1.64. The firm's fifty day moving average is $1,942.41 and its 200 day moving average is $1,969.65. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $5.94 billion. Research analysts predict 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.

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