Magellan Asset Management Ltd Buys Shares of 12,016 MercadoLibre, Inc. (NASDAQ:MELI)

Magellan Asset Management Ltd acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,016 shares of the company's stock, valued at approximately $20,432,000.

Several other large investors also recently made changes to their positions in MELI. 1620 Investment Advisors Inc. grew its position in MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after acquiring an additional 5 shares in the last quarter. Nvwm LLC boosted its stake in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after buying an additional 6 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in MercadoLibre by 0.7% during the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock valued at $1,758,000 after purchasing an additional 7 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of MercadoLibre by 17.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock worth $78,000 after acquiring an additional 7 shares in the last quarter. Finally, Savant Capital LLC grew its holdings in shares of MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company's stock worth $524,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

MercadoLibre stock traded up $75.93 during mid-day trading on Tuesday, reaching $1,870.66. 313,766 shares of the stock traded hands, compared to its average volume of 429,918. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $94.84 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The business's 50-day moving average is $2,035.87 and its 200-day moving average is $1,964.70. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54.

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

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Finally, Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $2,402.81.

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.