Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,981 shares of the company's stock after selling 3,860 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.19% of MercadoLibre worth $161,557,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. increased its position in MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after purchasing an additional 5 shares in the last quarter. Nvwm LLC raised its stake in shares of MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after acquiring an additional 6 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of MercadoLibre by 0.7% during the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock valued at $1,758,000 after acquiring an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in MercadoLibre by 17.9% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock worth $78,000 after purchasing an additional 7 shares during the period. Finally, Savant Capital LLC increased its holdings in MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company's stock valued at $524,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Barclays increased their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Cantor Fitzgerald boosted their target price 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. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, Wedbush decreased 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 research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $2,402.81.
Check Out Our Latest Research Report on MercadoLibre
MercadoLibre Stock Performance
MELI stock traded down $47.78 during midday trading on Friday, reaching $2,048.07. The company had a trading volume of 326,428 shares, compared to its average volume of 374,317. 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 market capitalization of $103.83 billion, a PE ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The stock has a 50 day moving average price of $2,028.39 and a 200 day moving average price of $1,974.17.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share 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 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.
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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