HighTower Advisors LLC Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

HighTower Advisors LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,255 shares of the company’s stock after selling 710 shares during the quarter. HighTower Advisors LLC’s holdings in MercadoLibre were worth $8,936,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mount Lucas Management LP lifted its stake in shares of MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after buying an additional 5 shares in the last quarter. Nvwm LLC lifted its stake in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in MercadoLibre by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after purchasing an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in MercadoLibre by 17.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after purchasing an additional 7 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after purchasing an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,106.46 on Tuesday. The company has a market capitalization of $106.79 billion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The firm’s 50-day moving average is $1,973.12 and its 200 day moving average is $1,969.76. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays boosted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Susquehanna boosted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

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.