Federated Hermes Inc. Has $86.03 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Federated Hermes Inc. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,592 shares of the company's stock after selling 4,195 shares during the quarter. Federated Hermes Inc. owned about 0.10% of MercadoLibre worth $86,029,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MELI. Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre in the 3rd quarter worth approximately $114,417,000. Principal Financial Group Inc. boosted its holdings 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 increased its stake in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after acquiring an additional 43,215 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after purchasing an additional 143 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after buying an additional 780 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

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MercadoLibre Stock Performance

MELI traded up $62.96 during trading hours on Friday, hitting $1,996.95. 358,711 shares of the stock were exchanged, compared to its average volume of 388,657. 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 stock has a 50-day simple moving average of $2,036.16 and a 200-day simple moving average of $1,958.91. The stock has a market cap of $101.24 billion, a price-to-earnings ratio of 52.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

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, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. Barclays increased their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Cantor Fitzgerald upped their price objective 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. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group lifted 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. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $2,409.69.

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.