Stonebridge Capital Advisors LLC Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Stonebridge Capital Advisors LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 119 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds also recently made changes to their positions in MELI. Capital Research Global Investors raised its position in shares of MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after buying an additional 179,807 shares during the period. Capital International Investors increased its stake in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the last quarter. Capital World Investors raised its holdings in shares of MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after purchasing an additional 2,048 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,204.81 on Friday. MercadoLibre, Inc. has a 52 week low of $1,341.00 and a 52 week high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $111.78 billion, a P/E ratio of 58.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The stock has a 50 day moving average of $2,047.82 and a 200-day moving average of $1,964.79.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Benchmark started coverage on shares of MercadoLibre in a research report on Tuesday, April 15th. They set a “buy” rating and a $2,500.00 price target for the company. Citigroup reissued a “buy” rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Finally, Barclays upped their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $2,464.67.

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.