Perennial Investment Advisors LLC Purchases 30 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Perennial Investment Advisors LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 173 shares of the company’s stock after purchasing an additional 30 shares during the period. Perennial Investment Advisors LLC’s holdings in MercadoLibre were worth $294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $565,306,000. Norges Bank purchased a new position in MercadoLibre in the fourth quarter valued at about $383,051,000. Strategic Financial Concepts LLC boosted its stake in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after acquiring an additional 181,849 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $114,417,000. Finally, Coronation Fund Managers Ltd. increased its stake in shares of MercadoLibre by 130.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company’s stock worth $131,747,000 after purchasing an additional 43,836 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Bank of America upped their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays increased their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,841.29 on Monday. The stock has a market cap of $93.35 billion, a P/E ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average price is $2,036.90 and its two-hundred day moving average price is $1,966.91. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The business 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%. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.