Northwest & Ethical Investments L.P. Lowers Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Northwest & Ethical Investments L.P. trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,666 shares of the company's stock after selling 279 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in MercadoLibre were worth $16,436,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after buying an additional 70,154 shares in the last quarter. FMR LLC boosted its stake in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. State Street Corp grew its holdings in shares of MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company's stock worth $830,190,000 after purchasing an additional 12,000 shares during the last quarter. Wellington Management Group LLP increased its position in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at about $565,306,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research reports. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Susquehanna lifted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. Finally, 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 research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $2,402.81.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $39.04 on Monday, hitting $2,134.31. The company's stock had a trading volume of 353,917 shares, compared to its average volume of 363,699. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average price of $2,005.48 and a 200-day moving average price of $1,971.33. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a market capitalization of $108.20 billion, a P/E ratio of 56.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating 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 business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.