Westpac Banking Corp lifted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 46.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,151 shares of the company's stock after purchasing an additional 680 shares during the quarter. Westpac Banking Corp's holdings in MercadoLibre were worth $3,658,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in shares of MercadoLibre by 11.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company's stock valued at $404,000 after purchasing an additional 21 shares during the last quarter. Paloma Partners Management Co grew its stake in shares of MercadoLibre by 42.3% during the third quarter. Paloma Partners Management Co now owns 279 shares of the company's stock valued at $572,000 after buying an additional 83 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of MercadoLibre in the third quarter worth about $2,172,000. Holocene Advisors LP bought a new stake in shares of MercadoLibre in the 3rd quarter valued at about $5,118,000. Finally, Hilltop Holdings Inc. boosted its holdings in MercadoLibre by 9.1% during the 3rd quarter. Hilltop Holdings Inc. now owns 312 shares of the company's stock valued at $640,000 after acquiring an additional 26 shares during the period. 87.62% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Cantor Fitzgerald lifted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Susquehanna upped their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Barclays raised 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. Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Two 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 stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Buy" and a consensus target price of $2,402.81.
Read Our Latest Research Report on MELI
MercadoLibre Stock Down 5.4 %
Shares of MercadoLibre stock traded down $104.26 during midday trading on Friday, hitting $1,841.29. The company had a trading volume of 852,116 shares, compared to its average volume of 382,455. The company has a 50 day moving average of $2,036.90 and a 200 day moving average of $1,967.86. The stock has a market capitalization of $93.35 billion, a P/E ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. 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 (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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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