Rhumbline Advisers Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Rhumbline Advisers boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,365 shares of the company's stock after purchasing an additional 437 shares during the period. Rhumbline Advisers' holdings in MercadoLibre were worth $20,221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MELI. Capital Research Global Investors boosted its stake in shares of MercadoLibre by 8.0% in the fourth 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 during the period. Capital International Investors grew its stake in shares of MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares in the last quarter. Capital World Investors increased its position in shares of 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 acquiring an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of MercadoLibre by 41.0% in the fourth 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of MercadoLibre by 0.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock valued at $927,239,000 after acquiring an additional 2,048 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. 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 report on Thursday, May 8th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,613.75.

MercadoLibre Stock Performance

MELI traded down $52.16 on Tuesday, hitting $2,396.44. 501,406 shares of the company traded hands, compared to its average volume of 384,011. The company has a 50 day moving average of $2,307.64 and a 200-day moving average of $2,068.51. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,635.88. The stock has a market capitalization of $121.49 billion, a PE ratio of 63.57, a PEG ratio of 1.12 and a beta of 1.51. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the previous year, the company posted $6.78 EPS. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.