MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 38.1% in the fourth quarter, Holdings Channel reports. The firm owned 33,832 shares of the company’s stock after purchasing an additional 9,329 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in MercadoLibre were worth $57,529,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in MercadoLibre in the third quarter worth about $114,417,000. Principal Financial Group Inc. boosted its stake in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the period. KBC Group NV boosted its stake in MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares during the period. Nordea Investment Management AB boosted its stake in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its stake in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report 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. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,070.41 on Tuesday. 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 cap of $104.96 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 1.12 and a beta of 1.62. The stock’s 50 day moving average price is $1,916.76 and its 200 day moving average price is $1,968.19. 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) last announced its 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre 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.