Arrowstreet Capital Limited Partnership Has $927.24 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Arrowstreet Capital Limited Partnership increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 545,292 shares of the company’s stock after purchasing an additional 2,048 shares during the period. MercadoLibre comprises about 0.7% of Arrowstreet Capital Limited Partnership’s investment portfolio, making the stock its 17th largest position. Arrowstreet Capital Limited Partnership owned about 1.08% of MercadoLibre worth $927,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after acquiring an additional 21 shares during the period. Townsquare Capital LLC boosted its holdings in MercadoLibre by 4.7% during the third quarter. Townsquare Capital LLC now owns 1,782 shares of the company’s stock valued at $3,657,000 after purchasing an additional 80 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of MercadoLibre by 17.0% in the 3rd quarter. Bridgewater Associates LP now owns 1,837 shares of the company’s stock valued at $3,769,000 after purchasing an additional 267 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of MercadoLibre in the 3rd quarter worth approximately $273,000. Finally, Fiduciary Trust Co raised its holdings in shares of MercadoLibre by 16.1% in the 3rd quarter. Fiduciary Trust Co now owns 511 shares of the company’s stock worth $1,049,000 after buying an additional 71 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,048.07 on Friday. The business’s 50-day simple moving average is $2,028.39 and its 200 day simple moving average is $1,974.17. 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 stock has a market cap of $103.83 billion, a price-to-earnings ratio of 54.33, 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 issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of analyst reports. Barclays upped their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Susquehanna upped their price objective 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. Finally, Bank of America lifted their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Two research 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 company. According to MarketBeat.com, the company has an average rating of “Buy” and an average 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.