Tower Research Capital LLC TRC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 94.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,714 shares of the company's stock after acquiring an additional 832 shares during the quarter. Tower Research Capital LLC TRC's holdings in MercadoLibre were worth $2,915,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Capital International Investors grew its stake in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the period. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre during the 4th quarter worth approximately $565,306,000. Capital World Investors grew its position in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the period. Norges Bank bought a new stake in shares of MercadoLibre in the 4th quarter valued at $383,051,000. Finally, Strategic Financial Concepts LLC lifted its position in shares of MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after acquiring an additional 181,849 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on MELI. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Morgan Stanley decreased their price objective on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Barclays increased their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $2,415.94.
Get Our Latest Stock Report on MercadoLibre
MercadoLibre Stock Down 2.0 %
Shares of NASDAQ:MELI opened at $2,056.43 on Tuesday. The company has a market capitalization of $104.25 billion, a PE ratio of 54.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The business has a fifty day moving average price of $2,044.08 and a two-hundred day moving average price of $1,960.73.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. Analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
MercadoLibre Company Profile
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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.
See Also
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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