Pittenger & Anderson Inc. Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Pittenger & Anderson Inc. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 34.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,146 shares of the company’s stock after acquiring an additional 545 shares during the period. Pittenger & Anderson Inc.’s holdings in MercadoLibre were worth $3,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lyell Wealth Management LP bought a new position in MercadoLibre in the 4th quarter worth about $314,000. Disciplined Equity Management Inc. bought a new position in MercadoLibre in the 4th quarter worth approximately $42,000. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of MercadoLibre by 3.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,105 shares of the company’s stock worth $1,737,000 after purchasing an additional 40 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of MercadoLibre by 6.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,505 shares of the company’s stock valued at $2,365,000 after purchasing an additional 95 shares in the last quarter. Finally, NewSquare Capital LLC grew its position in MercadoLibre by 98,400.0% in the 4th quarter. NewSquare Capital LLC now owns 1,970 shares of the company’s stock valued at $3,096,000 after buying an additional 1,968 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday. Wedbush reduced their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Barclays dropped their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $1,790.36.

MercadoLibre Stock Performance

NASDAQ:MELI traded down $6.17 during mid-day trading on Thursday, hitting $1,363.83. The stock had a trading volume of 207,284 shares, compared to its average volume of 384,189. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The company’s 50 day simple moving average is $1,538.78 and its 200 day simple moving average is $1,528.66. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The stock has a market cap of $69.15 billion, a price-to-earnings ratio of 69.89, a PEG ratio of 0.90 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the firm earned $3.25 earnings per share. MercadoLibre’s revenue was up 42.0% on a year-over-year basis. On average, equities research analysts forecast that MercadoLibre, Inc. will post 35.77 earnings per share 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.