Los Angeles Capital Management LLC Has $4.16 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Los Angeles Capital Management LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 65.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,444 shares of the company’s stock after selling 4,633 shares during the period. Los Angeles Capital Management LLC’s holdings in MercadoLibre were worth $4,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MELI. Swedbank AB grew its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of MercadoLibre by 29.4% during the 3rd quarter. Mutual Advisors LLC now owns 674 shares of the company’s stock worth $1,385,000 after purchasing an additional 153 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of MercadoLibre by 16.1% in the third quarter. First Trust Direct Indexing L.P. now owns 613 shares of the company’s stock worth $1,258,000 after purchasing an additional 85 shares during the period. Diversify Wealth Management LLC raised its stake in MercadoLibre by 4.2% in the third quarter. Diversify Wealth Management LLC now owns 398 shares of the company’s stock valued at $811,000 after purchasing an additional 16 shares in the last quarter. Finally, 1620 Investment Advisors Inc. lifted its position in MercadoLibre by 3.7% during the third quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock worth $407,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BTIG Research dropped their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Bank of America raised their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Stock Down 3.1 %

Shares of NASDAQ MELI opened at $2,129.80 on Friday. The company has a 50 day simple moving average of $1,901.92 and a 200 day simple moving average of $1,965.30. 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, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The firm has a market cap of $107.97 billion, a PE ratio of 56.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last released its quarterly 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 firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.