NorthCrest Asset Manangement LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

NorthCrest Asset Manangement LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,733 shares of the company's stock after purchasing an additional 103 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in MercadoLibre were worth $14,850,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MELI. Nisa Investment Advisors LLC lifted its stake in 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 purchasing an additional 85 shares during the last quarter. RFG Advisory LLC lifted its stake in MercadoLibre by 13.7% during the fourth quarter. RFG Advisory LLC now owns 315 shares of the company's stock worth $536,000 after purchasing an additional 38 shares during the last quarter. Fifth Third Bancorp lifted its stake in MercadoLibre by 9.1% during the fourth quarter. Fifth Third Bancorp now owns 1,937 shares of the company's stock worth $3,294,000 after purchasing an additional 161 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in MercadoLibre by 6.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 629 shares of the company's stock worth $1,070,000 after purchasing an additional 40 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in MercadoLibre during the fourth quarter worth about $481,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MELI. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Cantor Fitzgerald reduced their price target on 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 report on Tuesday, April 15th. Finally, Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Friday, May 16th. One equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,572.86.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $16.73 on Friday, hitting $2,562.22. 405,889 shares of the company were exchanged, compared to its average volume of 383,003. The stock has a market capitalization of $129.90 billion, a price-to-earnings ratio of 67.96, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The company has a 50-day moving average price of $2,233.35 and a 200 day moving average price of $2,038.68. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,635.88. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

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

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.