Parkwood LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,426 shares of the company's stock after selling 136 shares during the quarter. Parkwood LLC's holdings in MercadoLibre were worth $9,227,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in 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 buying an additional 179,807 shares during the last quarter. Capital International Investors lifted its stake in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after buying an additional 470,829 shares during the last quarter. Capital World Investors lifted its stake in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 405,425 shares during the last quarter. Finally, 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 valued at $927,239,000 after purchasing an additional 2,048 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on MELI shares. Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Susquehanna lifted their price objective 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, Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,521.33.
View Our Latest Research Report on MercadoLibre
MercadoLibre Price Performance
MercadoLibre stock traded down $1.57 during midday trading on Friday, hitting $2,584.92. The company's stock had a trading volume of 279,704 shares, compared to its average volume of 382,706. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock's 50-day moving average price is $2,135.04 and its 200-day moving average price is $1,999.88. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,610.30. The company has a market capitalization of $131.05 billion, a PE ratio of 68.57, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The firm 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%. MercadoLibre's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.78 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.
MercadoLibre Profile
(
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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