Sit Investment Associates Inc. Grows Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sit Investment Associates Inc. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 650.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225 shares of the company's stock after purchasing an additional 195 shares during the period. Sit Investment Associates Inc.'s holdings in MercadoLibre were worth $383,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Human Investing LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. boosted its stake in 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 holdings in 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 purchasing an additional 8 shares during the period. Heck Capital Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at $32,000. Finally, Mather Group LLC. raised its holdings 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 currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI traded up $62.96 on Friday, reaching $1,996.95. 358,711 shares of the company's stock traded hands, compared to its average volume of 388,657. The stock's 50 day simple moving average is $2,036.16 and its two-hundred day simple moving average is $1,958.91. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The stock has a market cap of $101.24 billion, a PE ratio of 52.97, a PEG ratio of 1.12 and a beta of 1.62.

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MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results 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 analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on MELI shares. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research note 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 equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $2,409.69.

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.