MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Decreased by Bridgewater Associates LP

Bridgewater Associates LP trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,758 shares of the company’s stock after selling 79 shares during the quarter. Bridgewater Associates LP’s holdings in MercadoLibre were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new stake in MercadoLibre in the fourth quarter worth approximately $565,306,000. Norges Bank bought a new stake in MercadoLibre in the fourth quarter worth $383,051,000. Strategic Financial Concepts LLC increased its position in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after buying an additional 181,849 shares during the last quarter. Coronation Fund Managers Ltd. increased its position in MercadoLibre by 130.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company’s stock worth $131,747,000 after buying an additional 43,836 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MELI shares. Cantor Fitzgerald lowered their price objective on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group lifted 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. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a report on Tuesday. Finally, Morgan Stanley decreased their price target on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $2,415.94.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,099.37 on Friday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a market capitalization of $106.43 billion, a P/E ratio of 55.69, a P/E/G ratio of 1.12 and a beta of 1.62. The stock has a 50 day moving average of $2,042.00 and a two-hundred day moving average of $1,959.90. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.