Duality Advisers LP Takes $2.04 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Duality Advisers LP acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,300 shares of the company’s stock, valued at approximately $2,043,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Envestnet Asset Management Inc. lifted its stake in MercadoLibre by 99.3% during the third quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock worth $67,900,000 after purchasing an additional 26,679 shares during the last quarter. Townsquare Capital LLC lifted its stake in MercadoLibre by 0.9% during the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after purchasing an additional 14 shares during the last quarter. California Public Employees Retirement System lifted its stake in MercadoLibre by 1.5% during the third quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock worth $113,237,000 after purchasing an additional 1,277 shares during the last quarter. Vanguard Group Inc. increased its position in MercadoLibre by 2.3% during the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after buying an additional 4,065 shares during the period. Finally, International Assets Investment Management LLC increased its position in MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after buying an additional 146,034 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MELI. Barclays cut their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Susquehanna lifted their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price target on shares of MercadoLibre in a research report on Tuesday, March 5th. Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Finally, UBS Group cut their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,804.64.

MercadoLibre Trading Up 0.9 %

NASDAQ:MELI opened at $1,368.23 on Tuesday. The stock has a fifty day moving average price of $1,552.54 and a two-hundred day moving average price of $1,528.67. The stock has a market capitalization of $69.37 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 0.87 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company’s revenue was up 42.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.25 EPS. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 35.77 earnings per share for the current fiscal 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.