UniSuper Management Pty Ltd Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

UniSuper Management Pty Ltd increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 76.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,200 shares of the company's stock after acquiring an additional 7,005 shares during the period. UniSuper Management Pty Ltd's holdings in MercadoLibre were worth $27,547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sava Infond d.o.o. acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $9,114,000. Artisan Partners Limited Partnership lifted its stake in MercadoLibre by 10.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 162,169 shares of the company's stock worth $275,759,000 after purchasing an additional 14,979 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of MercadoLibre by 6.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,637 shares of the company's stock worth $67,198,000 after buying an additional 2,334 shares during the period. Korea Investment CORP raised its holdings in shares of MercadoLibre by 6.7% in the 4th quarter. Korea Investment CORP now owns 47,360 shares of the company's stock valued at $80,533,000 after buying an additional 2,986 shares during the period. Finally, Summitry LLC lifted its stake in MercadoLibre by 50.0% during the 4th quarter. Summitry LLC now owns 147 shares of the company's stock worth $250,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Susquehanna boosted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Finally, New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $2,402.81.

MercadoLibre Stock Performance

Shares of MELI stock traded down $47.78 during mid-day trading on Friday, hitting $2,048.07. 326,428 shares of the stock were exchanged, compared to its average volume of 374,317. The stock's fifty day simple moving average is $2,028.39 and its two-hundred day simple moving average is $1,974.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The stock has a market capitalization of $103.83 billion, a price-to-earnings ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64.

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, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for 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 EPS for the current year.

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.