MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Lifted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,586 shares of the company's stock after acquiring an additional 886 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in MercadoLibre were worth $23,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of MercadoLibre in the third quarter valued at $114,417,000. Principal Financial Group Inc. increased its stake in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after purchasing an additional 10,272 shares during the last quarter. KBC Group NV increased its stake in MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company's stock valued at $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Nordea Investment Management AB increased its stake in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after purchasing an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake 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 purchasing an additional 780 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 7.1 %

MELI traded up $149.53 on Friday, reaching $2,260.00. The company's stock had a trading volume of 1,256,768 shares, compared to its average volume of 371,354. The stock has a market cap of $114.58 billion, a price-to-earnings ratio of 79.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. 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 business's 50 day moving average is $1,867.29 and its 200 day moving average is $1,956.30.

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, beating analysts' consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. As a group, research analysts forecast that MercadoLibre, Inc. will post 32.98 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares of the company's stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on MELI. Cantor Fitzgerald upped their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Susquehanna upped their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday. Finally, BTIG Research dropped their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, MercadoLibre presently has an average rating of "Buy" and a consensus price target of $2,364.06.

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.