Investment House LLC Buys 928 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Investment House LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,711 shares of the company’s stock after acquiring an additional 928 shares during the period. MercadoLibre comprises approximately 1.4% of Investment House LLC’s holdings, making the stock its 19th largest position. Investment House LLC’s holdings in MercadoLibre were worth $25,016,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MELI. Swedbank AB raised its holdings in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in MercadoLibre by 19.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 572 shares of the company’s stock worth $1,174,000 after acquiring an additional 94 shares during the last quarter. Empowered Funds LLC raised its holdings in MercadoLibre by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 697 shares of the company’s stock worth $1,430,000 after acquiring an additional 35 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in MercadoLibre by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock worth $404,000 after acquiring an additional 21 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in MercadoLibre by 5.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 706 shares of the company’s stock worth $1,449,000 after acquiring an additional 39 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MELI shares. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Bank of America boosted their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Barclays boosted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Trading Down 4.9 %

Shares of MercadoLibre stock opened at $2,002.80 on Wednesday. The company has a market capitalization of $101.54 billion, a P/E ratio of 53.12, a P/E/G 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. The company has a fifty day moving average of $1,977.75 and a 200 day moving average of $1,969.35. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its earnings results 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 the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.