GF Fund Management CO. LTD. Purchases New Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

GF Fund Management CO. LTD. bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,608 shares of the company's stock, valued at approximately $16,338,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. MassMutual Private Wealth & Trust FSB raised its position in shares of MercadoLibre by 33.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 56 shares of the company's stock worth $95,000 after acquiring an additional 14 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of MercadoLibre by 11.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 861 shares of the company's stock worth $1,464,000 after acquiring an additional 85 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of MercadoLibre by 5.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,327 shares of the company's stock worth $10,759,000 after acquiring an additional 338 shares during the last quarter. Mutual Advisors LLC raised its position in shares of MercadoLibre by 21.8% during the fourth quarter. Mutual Advisors LLC now owns 821 shares of the company's stock worth $1,508,000 after acquiring an additional 147 shares during the last quarter. Finally, New Century Financial Group LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth $222,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 0.2%

Shares of MELI stock traded down $4.46 on Wednesday, hitting $2,550.71. 267,414 shares of the stock were exchanged, compared to its average volume of 382,515. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $129.31 billion, a P/E ratio of 67.66, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The business has a 50-day moving average of $2,208.60 and a 200 day moving average of $2,027.00. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on MELI shares. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Barclays upped their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on 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, two have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,572.86.

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.