Krane Funds Advisors LLC Acquires 39 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Krane Funds Advisors LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215 shares of the company’s stock after purchasing an additional 39 shares during the period. Krane Funds Advisors LLC’s holdings in MercadoLibre were worth $366,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its holdings in MercadoLibre by 9.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 721 shares of the company’s stock valued at $1,479,000 after acquiring an additional 60 shares in the last quarter. IHT Wealth Management LLC raised its stake in MercadoLibre by 5.9% in the third quarter. IHT Wealth Management LLC now owns 342 shares of the company’s stock valued at $702,000 after purchasing an additional 19 shares in the last quarter. State Street Corp lifted its position in MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the period. EP Wealth Advisors LLC grew its stake in MercadoLibre by 47.9% during the third quarter. EP Wealth Advisors LLC now owns 216 shares of the company’s stock worth $443,000 after buying an additional 70 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in MercadoLibre by 142.2% in the 3rd quarter. National Bank of Canada FI now owns 16,521 shares of the company’s stock valued at $33,900,000 after buying an additional 9,699 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Cantor Fitzgerald lifted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Wedbush decreased their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Barclays increased their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 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 given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Down 5.4 %

Shares of MercadoLibre stock opened at $1,841.29 on Monday. The stock’s 50-day moving average is $2,036.90 and its 200 day moving average is $1,966.91. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The firm has a market cap of $93.35 billion, a price-to-earnings ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current 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.