Ascent Wealth Partners LLC Raises Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Ascent Wealth Partners LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 88.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,189 shares of the company’s stock after buying an additional 1,030 shares during the period. Ascent Wealth Partners LLC’s holdings in MercadoLibre were worth $3,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its position in shares of MercadoLibre by 7.1% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 1,500 shares of the company’s stock worth $2,583,000 after purchasing an additional 100 shares during the period. Cabot Wealth Management Inc. raised its stake in MercadoLibre by 1.0% in the fourth quarter. Cabot Wealth Management Inc. now owns 10,895 shares of the company’s stock worth $18,526,000 after buying an additional 109 shares in the last quarter. Howard Capital Management Inc. lifted its holdings in MercadoLibre by 2.1% during the fourth quarter. Howard Capital Management Inc. now owns 984 shares of the company’s stock worth $1,673,000 after buying an additional 20 shares during the period. Matthew 25 Management Corp boosted its position in MercadoLibre by 6.9% during the 4th quarter. Matthew 25 Management Corp now owns 13,100 shares of the company’s stock valued at $22,276,000 after acquiring an additional 850 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of MercadoLibre by 17.6% in the 4th quarter. Sigma Planning Corp now owns 521 shares of the company’s stock valued at $886,000 after acquiring an additional 78 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,260.00 on Friday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. 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 firm has a market capitalization of $114.58 billion, a P/E ratio of 59.95, a PEG ratio of 1.12 and a beta of 1.62. The company has a 50 day moving average price of $1,867.29 and a 200 day moving average price of $1,957.32.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (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 company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on MELI shares. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Citigroup reduced their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Wedbush reduced their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Two 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 data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2,364.06.

MercadoLibre 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.