Capital Research Global Investors increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,415,815 shares of the company's stock after acquiring an additional 179,807 shares during the quarter. Capital Research Global Investors owned approximately 4.76% of MercadoLibre worth $4,108,079,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors increased its position in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $565,306,000. Capital World Investors grew its stake in shares of MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after buying an additional 308,973 shares in the last quarter. Norges Bank purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $383,051,000. Finally, Strategic Financial Concepts LLC lifted its position in MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock worth $309,405,000 after acquiring an additional 181,849 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
MELI has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of 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 reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Susquehanna upped 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. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Finally, Barclays increased their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Two research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $2,415.94.
Get Our Latest Research Report on MELI
MercadoLibre Stock Performance
Shares of NASDAQ MELI traded up $11.59 during midday trading on Wednesday, hitting $2,139.92. The company's stock had a trading volume of 330,660 shares, compared to its average volume of 385,393. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 1-year low of $1,341.00 and a 1-year high of $2,374.54. The firm's fifty day moving average price is $2,045.33 and its 200-day moving average price is $1,961.90. The firm has a market cap of $108.49 billion, a P/E ratio of 56.76, a P/E/G ratio of 1.12 and a beta of 1.62.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its 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 company 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 51.89% and a net margin of 9.20%. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.
About MercadoLibre
(
Free Report)
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.
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