MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Summit Financial LLC

Summit Financial LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,831 shares of the company’s stock after acquiring an additional 383 shares during the quarter. Summit Financial LLC’s holdings in MercadoLibre were worth $4,814,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in shares of MercadoLibre by 0.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after acquiring an additional 2,048 shares during the period. Schroder Investment Management Group lifted its position in MercadoLibre by 9.4% during the fourth quarter. Schroder Investment Management Group now owns 443,156 shares of the company’s stock valued at $753,560,000 after purchasing an additional 38,261 shares during the period. State Street Corp boosted its holdings in MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after purchasing an additional 12,000 shares during the last quarter. Wellington Management Group LLP grew its position in MercadoLibre by 8.9% during the 4th quarter. Wellington Management Group LLP now owns 380,956 shares of the company’s stock worth $647,793,000 after purchasing an additional 31,278 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $565,306,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 4.7 %

Shares of MELI stock opened at $1,950.87 on Tuesday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The firm has a market capitalization of $98.90 billion, a P/E ratio of 51.75, a PEG ratio of 1.12 and a beta of 1.64. The stock’s fifty day moving average is $2,030.68 and its two-hundred day moving average is $1,972.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.94 billion. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on MELI. The Goldman Sachs Group raised their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Barclays raised their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre 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.