UniSuper Management Pty Ltd Purchases 7,005 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

UniSuper Management Pty Ltd grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 76.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,200 shares of the company’s stock after buying an additional 7,005 shares during the period. UniSuper Management Pty Ltd’s holdings in MercadoLibre were worth $27,547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Wealthfront Advisers LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $565,306,000. Strategic Financial Concepts LLC grew its stake in shares of MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after buying an additional 181,849 shares during the last quarter. FMR LLC increased its position in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Wellington Management Group LLP raised its stake in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after buying an additional 120,922 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in MercadoLibre in the third quarter worth $114,417,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI opened at $2,074.97 on Thursday. The company’s 50 day moving average is $2,018.97 and its 200 day moving average is $1,973.49. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a market cap of $105.19 billion, a price-to-earnings ratio of 55.04, a PEG 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 issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MELI shares. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective 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. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Barclays raised their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.