Orion Portfolio Solutions LLC Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Orion Portfolio Solutions LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 51.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,232 shares of the company's stock after acquiring an additional 420 shares during the quarter. Orion Portfolio Solutions LLC's holdings in MercadoLibre were worth $2,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $114,417,000. Principal Financial Group Inc. raised its position 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 worth $121,948,000 after purchasing an additional 10,272 shares during the last quarter. Nordea Investment Management AB raised its stake in MercadoLibre by 37.8% in the 4th 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. Oppenheimer & Co. Inc. lifted its holdings in MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after purchasing an additional 143 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of MercadoLibre by 40.0% during the 3rd 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 during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

MELI has been the topic of several research analyst reports. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Barclays increased their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research 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 research report on Monday, March 3rd. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Finally, Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. Two equities research 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 stock. According to data from MarketBeat, MercadoLibre has a consensus rating of "Buy" and a consensus price target of $2,402.81.

MercadoLibre Stock Down 2.5 %

NASDAQ:MELI traded down $46.56 during midday trading on Monday, hitting $1,794.73. 650,095 shares of the company were exchanged, compared to its average volume of 383,606. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a market capitalization of $90.99 billion, a PE ratio of 47.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $2,035.87 and a 200 day simple moving average of $1,964.70.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.