Tidal Investments LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,631 shares of the company's stock after selling 1,198 shares during the quarter. Tidal Investments LLC's holdings in MercadoLibre were worth $24,879,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Toronto Dominion Bank raised its position in shares of MercadoLibre by 9.5% during the 4th quarter. Toronto Dominion Bank now owns 6,533 shares of the company's stock worth $11,109,000 after purchasing an additional 566 shares during the last quarter. Steadfast Capital Management LP acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $10,842,000. Snowden Capital Advisors LLC raised its position in shares of MercadoLibre by 5.3% during the 4th quarter. Snowden Capital Advisors LLC now owns 906 shares of the company's stock worth $1,541,000 after purchasing an additional 46 shares during the last quarter. Siemens Fonds Invest GmbH raised its position in shares of MercadoLibre by 480.4% during the 4th quarter. Siemens Fonds Invest GmbH now owns 11,886 shares of the company's stock worth $20,211,000 after purchasing an additional 9,838 shares during the last quarter. Finally, Skye Global Management LP raised its position in shares of MercadoLibre by 113.0% during the 4th quarter. Skye Global Management LP now owns 7,200 shares of the company's stock worth $12,243,000 after purchasing an additional 3,820 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.
Wall Street Analyst Weigh In
MELI has been the subject of several research reports. StockNews.com downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Susquehanna lifted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,551.43.
Read Our Latest Stock Report on MELI
MercadoLibre Trading Up 0.9%
Shares of NASDAQ MELI traded up $22.76 during trading on Wednesday, hitting $2,601.97. 344,434 shares of the company traded hands, compared to its average volume of 383,113. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,623.52. The company has a 50-day moving average price of $2,158.30 and a 200-day moving average price of $2,007.13. The firm has a market capitalization of $131.91 billion, a P/E ratio of 69.02, a P/E/G ratio of 1.12 and a beta of 1.61. 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 during the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the previous year, the company earned $6.78 EPS. The business's quarterly revenue was up 37.0% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.
About MercadoLibre
(
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.
Further Reading
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