Fred Alger Management LLC Has $156.93 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Fred Alger Management LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,289 shares of the company's stock after purchasing an additional 2,278 shares during the quarter. MercadoLibre accounts for 0.7% of Fred Alger Management LLC's portfolio, making the stock its 22nd largest holding. Fred Alger Management LLC owned approximately 0.18% of MercadoLibre worth $156,932,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Fullcircle Wealth LLC raised its stake in shares of MercadoLibre by 34.9% in the fourth quarter. Fullcircle Wealth LLC now owns 255 shares of the company's stock valued at $434,000 after acquiring an additional 66 shares during the last quarter. FWL Investment Management LLC bought a new position in MercadoLibre in the 4th quarter valued at $41,000. Duquesne Family Office LLC boosted its stake in MercadoLibre by 11.7% in the fourth quarter. Duquesne Family Office LLC now owns 53,725 shares of the company's stock worth $91,356,000 after purchasing an additional 5,615 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in shares of MercadoLibre by 60.0% during the fourth quarter. Eagle Global Advisors LLC now owns 2,264 shares of the company's stock worth $3,850,000 after purchasing an additional 849 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of MercadoLibre by 614.7% in the fourth quarter. CoreCap Advisors LLC now owns 922 shares of the company's stock valued at $1,568,000 after buying an additional 793 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 1.8 %

MELI stock traded up $42.53 during mid-day trading on Friday, hitting $2,452.53. 382,692 shares of the company were exchanged, compared to its average volume of 381,235. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,501.00. The firm's 50 day simple moving average is $2,081.98 and its 200 day simple moving average is $1,982.03. The firm has a market cap of $124.34 billion, a P/E ratio of 65.05, a P/E/G ratio of 1.12 and a beta of 1.61.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MELI shares. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Finally, Bank of America raised their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,504.67.

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.