Treasurer of the State of North Carolina Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Treasurer of the State of North Carolina raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 139.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 599 shares of the company's stock after purchasing an additional 349 shares during the period. Treasurer of the State of North Carolina's holdings in MercadoLibre were worth $1,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Virtu Financial LLC bought a new stake in MercadoLibre in the third quarter worth $12,784,000. Anchor Investment Management LLC boosted its holdings in MercadoLibre by 19.1% during the 3rd quarter. Anchor Investment Management LLC now owns 629 shares of the company's stock valued at $1,291,000 after acquiring an additional 101 shares during the period. World Investment Advisors LLC lifted its position in MercadoLibre by 35.7% in the third quarter. World Investment Advisors LLC now owns 475 shares of the company's stock valued at $975,000 after purchasing an additional 125 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of MercadoLibre in the third quarter worth approximately $977,000. Finally, Tidal Investments LLC increased its stake in shares of MercadoLibre by 59.7% in the third quarter. Tidal Investments LLC now owns 15,829 shares of the company's stock worth $32,480,000 after buying an additional 5,918 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Morgan Stanley decreased their target price on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Finally, Barclays upped their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two 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's stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Buy" and a consensus target price of $2,415.94.

MercadoLibre Stock Performance

Shares of MELI stock traded up $33.93 during mid-day trading on Wednesday, reaching $2,162.26. 122,173 shares of the company's stock traded hands, compared to its average volume of 384,596. MercadoLibre, Inc. has a 12 month low of $1,341.00 and a 12 month high of $2,374.54. The firm has a 50 day moving average price of $2,045.33 and a two-hundred day moving average price of $1,961.90. The firm has a market capitalization of $109.62 billion, a PE ratio of 57.35, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. 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 (NASDAQ:MELI - Get Free Report) last issued its quarterly 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.