Raymond James Financial Inc. Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Raymond James Financial Inc. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 41,243 shares of the company's stock, valued at approximately $70,131,000. Raymond James Financial Inc. owned approximately 0.08% of MercadoLibre as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Promus Capital LLC purchased a new position in MercadoLibre during the fourth quarter valued at approximately $107,000. Dana Investment Advisors Inc. grew its position in MercadoLibre by 1.8% during the fourth quarter. Dana Investment Advisors Inc. now owns 621 shares of the company's stock valued at $1,056,000 after purchasing an additional 11 shares in the last quarter. Arizona State Retirement System grew its position in MercadoLibre by 0.8% in the fourth quarter. Arizona State Retirement System now owns 13,156 shares of the company's stock worth $22,371,000 after acquiring an additional 103 shares in the last quarter. Oak Grove Capital LLC bought a new stake in MercadoLibre in the fourth quarter worth approximately $3,845,000. Finally, Abbot Financial Management Inc. grew its position in MercadoLibre by 18.1% in the fourth quarter. Abbot Financial Management Inc. now owns 469 shares of the company's stock worth $798,000 after acquiring an additional 72 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of several recent research reports. Wedbush decreased their target price 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. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Barclays boosted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Citigroup decreased their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Finally, Susquehanna boosted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $2,402.81.

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MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,009.34 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The firm has a fifty day moving average price of $1,942.41 and a two-hundred day moving average price of $1,969.65. The company has a market cap of $101.87 billion, a PE ratio of 53.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued 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 net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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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