United Capital Financial Advisors LLC Reduces Stake in MercadoLibre, Inc. (NASDAQ:MELI)

United Capital Financial Advisors LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 643 shares of the company’s stock after selling 158 shares during the quarter. United Capital Financial Advisors LLC’s holdings in MercadoLibre were worth $1,093,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Guggenheim Capital LLC increased its position in MercadoLibre by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 12,774 shares of the company’s stock valued at $21,721,000 after purchasing an additional 182 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $12,298,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $7,091,000. CreativeOne Wealth LLC raised its stake in MercadoLibre by 394.0% in the fourth quarter. CreativeOne Wealth LLC now owns 657 shares of the company’s stock worth $1,117,000 after buying an additional 524 shares in the last quarter. Finally, Mariner LLC lifted its holdings in MercadoLibre by 4.9% in the fourth quarter. Mariner LLC now owns 6,007 shares of the company’s stock worth $10,216,000 after buying an additional 279 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $2,099.37 on Friday. The stock’s 50 day simple moving average is $2,043.29 and its 200 day simple moving average is $1,960.13. 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, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The stock has a market capitalization of $106.43 billion, a PE ratio of 55.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

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

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. 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 report on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price objective 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 research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $2,415.94.

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.