HighPoint Advisor Group LLC Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

HighPoint Advisor Group LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437 shares of the company’s stock after purchasing an additional 114 shares during the quarter. HighPoint Advisor Group LLC’s holdings in MercadoLibre were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Thrivent Financial for Lutherans grew its position in MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock worth $404,000 after acquiring an additional 21 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $273,000. Paloma Partners Management Co increased its position in shares of MercadoLibre by 42.3% during the 3rd quarter. Paloma Partners Management Co now owns 279 shares of the company’s stock valued at $572,000 after purchasing an additional 83 shares during the last quarter. Aureus Asset Management LLC purchased a new stake in MercadoLibre during the 3rd quarter valued at $228,000. Finally, Benjamin Edwards Inc. bought a new stake in MercadoLibre in the third quarter worth $2,172,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Barclays boosted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two research 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Trading Down 1.8 %

MELI opened at $1,915.00 on Wednesday. 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 firm has a market cap of $97.08 billion, a price-to-earnings ratio of 50.80, 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. The stock has a fifty day moving average price of $2,032.29 and a 200-day moving average price of $1,970.87.

MercadoLibre (NASDAQ:MELI) last announced its 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.