Premier Fund Managers Ltd Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Premier Fund Managers Ltd lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,175 shares of the company's stock after selling 126 shares during the quarter. Premier Fund Managers Ltd's holdings in MercadoLibre were worth $12,359,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Human Investing LLC bought a new stake in MercadoLibre during the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. boosted its stake in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 2.1 %

NASDAQ MELI traded down $40.29 during trading hours on Tuesday, reaching $1,910.58. The company had a trading volume of 273,098 shares, compared to its average volume of 375,247. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The stock has a 50-day moving average of $2,030.68 and a 200 day moving average of $1,972.33. The stock has a market capitalization of $96.86 billion, a P/E ratio of 50.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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MercadoLibre (NASDAQ:MELI - Get Free Report) last announced 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 company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America raised their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. The Goldman Sachs Group upped their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Barclays boosted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Finally, Susquehanna upped their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday, February 21st. Two 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. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $2,402.81.

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.