Royal London Asset Management Ltd. Purchases 21,063 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Royal London Asset Management Ltd. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,717 shares of the company's stock after purchasing an additional 21,063 shares during the period. MercadoLibre accounts for 1.1% of Royal London Asset Management Ltd.'s portfolio, making the stock its 16th largest holding. Royal London Asset Management Ltd. owned 0.51% of MercadoLibre worth $438,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Human Investing LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. boosted its position in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. grew its stake in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new position in MercadoLibre during the fourth quarter worth $32,000. Finally, Mather Group LLC. raised its stake in MercadoLibre by 171.4% during the 4th 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 last quarter. Institutional investors own 87.62% of the company's stock.

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Analyst Ratings Changes

Several 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 research report on Friday, February 21st. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Citigroup decreased their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group upped their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Two 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's stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of "Buy" and a consensus target price of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded up $39.04 during trading on Monday, reaching $2,134.31. The stock had a trading volume of 353,917 shares, compared to its average volume of 363,695. The stock has a market capitalization of $108.20 billion, a PE ratio of 56.61, a P/E/G ratio of 1.12 and a beta of 1.64. 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 52 week low of $1,324.99 and a 52 week high of $2,374.54. The business's 50-day moving average price is $1,997.59 and its 200 day moving average price is $1,970.66.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm 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%. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.