Erste Asset Management GmbH Purchases 6,101 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Erste Asset Management GmbH raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 129.9% during the fourth quarter, HoldingsChannel reports. The fund owned 10,797 shares of the company’s stock after buying an additional 6,101 shares during the period. Erste Asset Management GmbH’s holdings in MercadoLibre were worth $18,674,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Human Investing LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its position in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $32,000. Finally, Mather Group LLC. raised its stake in shares of MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.7 %

Shares of MELI stock opened at $2,004.83 on Thursday. The firm has a fifty day moving average of $1,958.74 and a 200-day moving average of $1,969.52. 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 company has a market capitalization of $101.64 billion, a price-to-earnings ratio of 53.18, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Susquehanna upped their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2,402.81.

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.