C WorldWide Group Holding A S lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,843 shares of the company's stock after selling 218 shares during the quarter. C WorldWide Group Holding A S's holdings in MercadoLibre were worth $17,252,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Capital International Investors raised its stake in shares of MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after buying an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after acquiring an additional 405,425 shares during the period. Capital World Investors boosted its stake in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $383,051,000. Finally, Capital Research Global Investors increased its stake in MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after purchasing an additional 179,807 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.
MercadoLibre Trading Up 2.7%
NASDAQ:MELI traded up $62.43 during mid-day trading on Friday, reaching $2,413.57. The company's stock had a trading volume of 319,769 shares, compared to its average volume of 388,105. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market cap of $122.37 billion, a P/E ratio of 59.36, a P/E/G ratio of 1.40 and a beta of 1.49. The company's fifty day simple moving average is $2,492.77 and its two-hundred day simple moving average is $2,181.16. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.78 earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Barclays increased their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.
Read Our Latest Stock Analysis on MercadoLibre
MercadoLibre Profile
(
Free Report)
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.
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