Exchange Traded Concepts LLC Acquires 7,819 Shares of MercadoLibre, Inc. $MELI

Exchange Traded Concepts LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 55.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,806 shares of the company’s stock after buying an additional 7,819 shares during the period. Exchange Traded Concepts LLC’s holdings in MercadoLibre were worth $43,923,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Bison Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $206,000. Empowered Funds LLC increased its stake in MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after acquiring an additional 49 shares during the last quarter. Focus Partners Wealth increased its stake in MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after acquiring an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in MercadoLibre during the second quarter valued at approximately $261,000. Finally, Prudential Financial Inc. lifted its stake in shares of MercadoLibre by 19.5% in the 2nd quarter. Prudential Financial Inc. now owns 588 shares of the company’s stock valued at $1,537,000 after purchasing an additional 96 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MELI shares. Wedbush dropped their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Barclays decreased their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. BTIG Research dropped their price objective on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a research note on Friday, March 20th. UBS Group cut their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Morgan Stanley reduced their target price on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,708.67.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,599.52 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. The stock has a market cap of $81.10 billion, a price-to-earnings ratio of 40.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.48. The firm has a 50-day moving average of $1,901.13 and a two-hundred day moving average of $2,066.92. MercadoLibre, Inc. has a 1 year low of $1,593.21 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The business’s revenue was up 44.6% compared to the same quarter last year. During the same period last year, the business posted $12.61 earnings per share. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.