Cary Street Partners Financial LLC Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Cary Street Partners Financial LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,208 shares of the company's stock, valued at approximately $7,155,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MELI. Principal Financial Group Inc. lifted its holdings in MercadoLibre by 20.9% in 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 during the last quarter. Nordea Investment Management AB boosted 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 worth $271,897,000 after buying an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after buying an additional 143 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of MercadoLibre by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company's stock valued at $172,613,000 after buying an additional 11,166 shares in the last quarter. Finally, Ninety One North America Inc. acquired a new stake in shares of MercadoLibre during the 4th quarter valued at $4,923,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 1.8 %

NASDAQ:MELI traded up $42.53 during trading hours on Friday, reaching $2,452.53. The company's stock had a trading volume of 382,692 shares, compared to its average volume of 380,631. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,501.00. The business's 50-day moving average is $2,074.13 and its 200-day moving average is $1,979.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market cap of $124.34 billion, a price-to-earnings ratio of 65.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the company posted $6.78 earnings per share. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. StockNews.com upgraded shares of MercadoLibre from a "hold" rating to a "buy" rating in a report on Thursday. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Finally, Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2,504.67.

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.