Freedom Investment Management Inc. Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Freedom Investment Management Inc. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 50.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 314 shares of the company's stock after selling 318 shares during the quarter. Freedom Investment Management Inc.'s holdings in MercadoLibre were worth $535,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital International Investors grew its holdings in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after purchasing an additional 470,829 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of MercadoLibre by 0.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock worth $927,239,000 after acquiring an additional 2,048 shares in the last quarter. Schroder Investment Management Group grew its position in MercadoLibre by 9.4% during the 4th quarter. Schroder Investment Management Group now owns 443,156 shares of the company's stock worth $753,560,000 after acquiring an additional 38,261 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of MercadoLibre by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 380,956 shares of the company's stock valued at $647,793,000 after acquiring an additional 31,278 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in MercadoLibre in the fourth quarter worth $565,306,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 1.0 %

Shares of MercadoLibre stock traded up $21.04 during trading on Friday, hitting $2,225.85. 284,084 shares of the stock traded hands, compared to its average volume of 385,916. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,376.69 and a 52-week high of $2,374.54. The stock's fifty day simple moving average is $2,050.36 and its 200 day simple moving average is $1,966.25. The firm has a market cap of $112.84 billion, a P/E ratio of 59.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MELI. Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Benchmark assumed coverage on MercadoLibre in a research report on Tuesday, April 15th. They set a "buy" rating and a $2,500.00 price objective for the company. Finally, Morgan Stanley dropped their price target on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $2,464.67.

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.