Ithaka Group LLC Has $11.69 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Ithaka Group LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 6,877 shares of the company’s stock after selling 279 shares during the period. MercadoLibre comprises approximately 2.2% of Ithaka Group LLC’s investment portfolio, making the stock its 17th largest position. Ithaka Group LLC’s holdings in MercadoLibre were worth $11,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of MELI. Planning Capital Management Corp lifted its stake in shares of MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares in the last quarter. Mount Lucas Management LP lifted its position in MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares in the last quarter. Nvwm LLC boosted its stake in MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after purchasing an additional 7 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its position in shares of MercadoLibre by 17.9% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock valued at $78,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.7 %

MELI stock opened at $2,004.83 on Thursday. The company has a market capitalization of $101.64 billion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. 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, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company’s 50 day moving average price is $1,958.74 and its two-hundred day moving average price is $1,969.52.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 EPS 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 company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on MELI. Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Susquehanna increased their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and an average target price of $2,402.81.

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.