MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Trimmed by Global Retirement Partners LLC

Global Retirement Partners LLC lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 59.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376 shares of the company’s stock after selling 554 shares during the period. Global Retirement Partners LLC’s holdings in MercadoLibre were worth $639,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in MercadoLibre during the 3rd quarter valued at $114,417,000. Principal Financial Group Inc. raised its stake in MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares in the last quarter. KBC Group NV raised its stake in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares in the last quarter. Nordea Investment Management AB raised its stake in MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in MercadoLibre by 40.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,260.00 on Friday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. 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 stock has a market capitalization of $114.58 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 1.12 and a beta of 1.62. The stock’s fifty day simple moving average is $1,867.29 and its 200 day simple moving average is $1,957.32.

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

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MELI shares. Susquehanna boosted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday. BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday. Finally, New Street Research raised 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 research note on Thursday, January 30th. Two investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $2,364.06.

MercadoLibre 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.