Titleist Asset Management LLC Has $3.64 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Titleist Asset Management LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 39.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,141 shares of the company's stock after selling 1,407 shares during the quarter. Titleist Asset Management LLC's holdings in MercadoLibre were worth $3,641,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. 1620 Investment Advisors Inc. boosted its holdings in MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after purchasing an additional 5 shares during the period. Nvwm LLC raised its position in shares of MercadoLibre by 0.5% during the fourth quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after buying an additional 6 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock valued at $1,758,000 after buying an additional 7 shares during the period. GPS Wealth Strategies Group LLC grew its position in MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock worth $78,000 after buying an additional 7 shares in the last quarter. Finally, Savant Capital LLC increased its stake in 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 period. 87.62% of the stock is currently owned by institutional investors.

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MercadoLibre Price Performance

MELI stock traded up $50.10 during midday trading on Friday, reaching $1,984.09. 168,042 shares of the company's stock traded hands, compared to its average volume of 437,177. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $100.59 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 1.12 and a beta of 1.62. The company has a 50-day simple moving average of $2,035.55 and a two-hundred day simple moving average of $1,959.84. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MELI. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Susquehanna raised their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Wedbush lowered their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald raised their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Two research 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $2,409.69.

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.