iA Global Asset Management Inc. Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

iA Global Asset Management Inc. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,476 shares of the company's stock after purchasing an additional 391 shares during the period. iA Global Asset Management Inc.'s holdings in MercadoLibre were worth $11,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Human Investing LLC acquired a new position in MercadoLibre during the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. boosted its holdings in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $32,000. Finally, Mather Group LLC. raised its holdings in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after acquiring an additional 12 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.9 %

Shares of NASDAQ MELI traded up $39.04 during trading on Monday, reaching $2,134.31. The stock had a trading volume of 353,917 shares, compared to its average volume of 363,699. The business's 50-day moving average price is $2,005.48 and its 200-day moving average price is $1,971.33. 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 debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market cap of $108.20 billion, a P/E ratio of 56.61, a PEG ratio of 1.12 and a beta of 1.64.

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MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $5.94 billion. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Barclays boosted their price target 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. Susquehanna raised 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 note on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of "Buy" and an average target price of $2,402.81.

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.