United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,023 shares of the company's stock after selling 264 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in MercadoLibre were worth $6,841,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans grew its position in MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company's stock worth $404,000 after acquiring an additional 21 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of MercadoLibre by 25.6% in the 3rd quarter. Cerity Partners LLC now owns 4,875 shares of the company's stock valued at $10,003,000 after purchasing an additional 993 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in MercadoLibre by 11.2% in the third quarter. Kingsview Wealth Management LLC now owns 426 shares of the company's stock worth $874,000 after purchasing an additional 43 shares in the last quarter. Algert Global LLC increased its position in MercadoLibre by 318.7% during the third quarter. Algert Global LLC now owns 1,633 shares of the company's stock worth $3,351,000 after buying an additional 1,243 shares during the last quarter. Finally, Pitcairn Co. raised its holdings in MercadoLibre by 5.6% during the third quarter. Pitcairn Co. now owns 282 shares of the company's stock valued at $579,000 after buying an additional 15 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Wedbush reduced their price objective 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. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Buy" and an average price target of $2,402.81.
Get Our Latest Analysis on MELI
MercadoLibre Stock Performance
Shares of NASDAQ MELI traded down $47.78 during trading hours on Friday, reaching $2,048.07. The stock had a trading volume of 326,428 shares, compared to its average volume of 374,317. The company has a market cap of $103.83 billion, a price-to-earnings ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The business's fifty day moving average is $2,028.39 and its two-hundred day moving average is $1,974.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.
MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.
MercadoLibre Company Profile
(
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.
Further Reading
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