Envestnet Portfolio Solutions Inc. Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 69.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,445 shares of the company’s stock after acquiring an additional 1,411 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in MercadoLibre were worth $5,858,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Human Investing LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. raised its holdings in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. raised its holdings in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. raised its holdings in shares of MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the topic of several analyst reports. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Citigroup dropped their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Trading Down 4.9 %

Shares of MELI stock opened at $2,002.80 on Wednesday. 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, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The stock has a fifty day moving average of $1,977.75 and a two-hundred day moving average of $1,969.35. The firm has a market capitalization of $101.54 billion, a PE ratio of 53.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, research 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.