Thoroughbred Financial Services LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,024 shares of the company's stock after selling 906 shares during the quarter. Thoroughbred Financial Services LLC's holdings in MercadoLibre were worth $6,843,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. lifted its position in shares of MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after purchasing an additional 5 shares in the last quarter. Nvwm LLC lifted its position in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock worth $1,933,000 after buying an additional 6 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of MercadoLibre by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock worth $1,758,000 after buying an additional 7 shares during the last quarter. GPS Wealth Strategies Group LLC grew its holdings in shares of MercadoLibre by 17.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock valued at $78,000 after acquiring an additional 7 shares in the last quarter. Finally, Savant Capital LLC increased its position in shares of MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company's stock valued at $524,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.
Wall Street Analyst Weigh In
MELI has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased 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 report on Tuesday, February 25th. Bank of America lifted their price objective 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. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Barclays lifted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $2,402.81.
Check Out Our Latest Analysis on MELI
MercadoLibre Price Performance
Shares of MELI stock traded down $104.26 during trading hours on Friday, reaching $1,841.29. The stock had a trading volume of 852,116 shares, compared to its average volume of 382,455. The stock's fifty day simple moving average is $2,036.90 and its 200 day simple moving average is $1,966.91. The firm has a market capitalization of $93.35 billion, a PE ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. 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 (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 9.20% and a return on equity of 51.89%. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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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