Sunpointe LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 95.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 319 shares of the company's stock after buying an additional 156 shares during the period. Sunpointe LLC's holdings in MercadoLibre were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MELI. Capital Research Global Investors grew its position in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the last quarter. Capital International Investors lifted its stake in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after buying an additional 470,829 shares in the last quarter. Capital World Investors lifted its position in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after purchasing an additional 405,425 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of MercadoLibre by 1.6% in the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre Price Performance
MELI stock traded down $26.01 during trading on Thursday, reaching $2,355.39. 124,936 shares of the company were exchanged, compared to its average volume of 388,455. The company has a 50-day moving average of $2,463.12 and a two-hundred day moving average of $2,215.13. The company has a market capitalization of $119.42 billion, a price-to-earnings ratio of 57.95, a P/E/G ratio of 1.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. 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 earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter in the prior year, the firm earned $6.78 EPS. The business's revenue for the quarter was up 37.0% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on MELI. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,690.29.
Check Out Our Latest Stock Report on MercadoLibre
MercadoLibre Company 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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