Parallel Advisors LLC Buys 19 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Parallel Advisors LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 215 shares of the company’s stock after buying an additional 19 shares during the quarter. Parallel Advisors LLC’s holdings in MercadoLibre were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GWN Securities Inc. purchased a new stake in MercadoLibre in the 4th quarter worth $409,000. Harbour Investments Inc. grew its holdings in MercadoLibre by 2.1% during the 4th quarter. Harbour Investments Inc. now owns 839 shares of the company’s stock valued at $1,427,000 after buying an additional 17 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in MercadoLibre by 69.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,445 shares of the company’s stock worth $5,858,000 after acquiring an additional 1,411 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of MercadoLibre by 1.9% during the 4th quarter. Frank Rimerman Advisors LLC now owns 770 shares of the company’s stock worth $1,309,000 after acquiring an additional 14 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of MercadoLibre in the fourth quarter valued at $273,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Wedbush reduced their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Barclays lifted their price objective 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. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Trading Up 1.3 %

NASDAQ MELI opened at $2,095.27 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 50 day moving average price of $1,997.59 and a 200 day moving average price of $1,970.94. 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 cap of $106.22 billion, a PE ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company 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.