MercadoLibre, Inc. (NASDAQ:MELI) Stake Raised by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,503 shares of the company’s stock after acquiring an additional 891 shares during the period. Jones Financial Companies Lllp’s holdings in MercadoLibre were worth $5,957,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Modera Wealth Management LLC lifted its holdings in shares of MercadoLibre by 8.1% during the 4th quarter. Modera Wealth Management LLC now owns 134 shares of the company’s stock valued at $228,000 after buying an additional 10 shares during the last quarter. Norden Group LLC lifted its holdings in shares of MercadoLibre by 25.6% during the 4th quarter. Norden Group LLC now owns 221 shares of the company’s stock valued at $376,000 after buying an additional 45 shares during the last quarter. MMA Asset Management LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $510,000. Mitchell Capital Management Co. lifted its holdings in shares of MercadoLibre by 54.9% during the 4th quarter. Mitchell Capital Management Co. now owns 2,020 shares of the company’s stock valued at $3,435,000 after buying an additional 716 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of MercadoLibre by 5.2% during the 4th quarter. Metis Global Partners LLC now owns 1,466 shares of the company’s stock valued at $2,493,000 after buying an additional 73 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup reduced their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. BTIG Research reduced their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Bank of America raised their price objective on 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, Barclays raised their price objective 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. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,059.87 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $1,923.09 and its two-hundred day moving average is $1,968.76. The company has a market cap of $104.43 billion, a P/E ratio of 54.64, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued 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 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 expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.