Mawer Investment Management Ltd. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,506 shares of the company's stock after selling 600 shares during the period. Mawer Investment Management Ltd.'s holdings in MercadoLibre were worth $2,561,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in MELI. Public Employees Retirement System of Ohio acquired a new stake in MercadoLibre during the 3rd quarter valued at approximately $114,417,000. Principal Financial Group Inc. boosted its stake in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after buying an additional 10,272 shares during the last quarter. Nordea Investment Management AB grew its position in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after buying an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after buying an additional 143 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after acquiring an additional 780 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
MercadoLibre Stock Performance
MercadoLibre stock traded up $10.98 during mid-day trading on Thursday, hitting $1,945.01. 330,687 shares of the company's stock traded hands, compared to its average volume of 377,783. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The firm has a 50 day moving average price of $2,034.60 and a 200 day moving average price of $1,970.61. The company has a market cap of $98.61 billion, a PE ratio of 51.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.
MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently weighed in on MELI. Susquehanna boosted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Bank of America upped their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $2,402.81.
Read Our Latest Stock Analysis on MercadoLibre
About MercadoLibre
(
Free Report)
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.
Featured Articles
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
