GF Fund Management CO. LTD. Purchases 597 Shares of MercadoLibre, Inc. $MELI

Key Points

• GF Fund Management increased its stake in MercadoLibre by 597 shares (a 5.4% quarterly rise) and now owns 11,562 shares valued at about $23.29 million per its latest SEC 13F filing.
• Institutional ownership of MercadoLibre is high at 87.62%, with other large investors (e.g., Massachusetts Financial Services and Principal Financial) also adding to positions and holding substantial stakes.
• MercadoLibre trades with a market cap of about $94.09 billion, a PE of 47.1, and reported last-quarter EPS of $11.03 on $8.76 billion in revenue; analysts have a consensus rating of "Moderate Buy" with a $2,695.33 target price.

GF Fund Management CO. LTD. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,562 shares of the company's stock after acquiring an additional 597 shares during the quarter. GF Fund Management CO. LTD.'s holdings in MercadoLibre were worth $23,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Weitz Investment Management Inc. bought a new position in shares of MercadoLibre during the third quarter valued at about $8,647,000. Barlow Wealth Partners Inc. grew its stake in shares of MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company's stock valued at $26,886,000 after buying an additional 6,429 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of MercadoLibre by 14.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company's stock valued at $202,610,000 after buying an additional 10,849 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of MercadoLibre by 18.7% during the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company's stock valued at $112,414,000 after buying an additional 7,570 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in MercadoLibre by 5.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company's stock valued at $27,015,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 1.8%

NASDAQ MELI opened at $1,855.83 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. The stock has a market capitalization of $94.09 billion, a PE ratio of 47.10, a PEG ratio of 0.95 and a beta of 1.49. MercadoLibre, Inc. has a 1 year low of $1,593.21 and a 1 year high of $2,645.22. The business's 50-day moving average is $1,793.36 and its 200 day moving average is $1,998.09.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. The company had revenue of $8.76 billion for the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on MELI shares. BTIG Research reiterated a "buy" rating and issued a $2,400.00 price objective on shares of MercadoLibre in a research report on Friday, April 10th. Barclays lowered their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Friday, February 6th. Jefferies Financial Group upgraded MercadoLibre from a "hold" rating to a "buy" rating and lowered their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Morgan Stanley lowered their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an "overweight" rating for the company in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,695.33.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.