Pinebridge Investments L.P. Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Pinebridge Investments L.P. lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,237 shares of the company's stock after selling 268 shares during the period. Pinebridge Investments L.P.'s holdings in MercadoLibre were worth $3,804,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 41.0% in the 4th 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 in the last quarter. OneDigital Investment Advisors LLC grew its holdings in MercadoLibre by 35.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 772 shares of the company's stock valued at $1,313,000 after buying an additional 200 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in MercadoLibre by 94.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,714 shares of the company's stock valued at $2,915,000 after buying an additional 832 shares in the last quarter. Mirabella Financial Services LLP grew its holdings in MercadoLibre by 66.7% in the 4th quarter. Mirabella Financial Services LLP now owns 3,598 shares of the company's stock valued at $6,115,000 after buying an additional 1,439 shares in the last quarter. Finally, Norinchukin Bank The grew its holdings in MercadoLibre by 8.3% in the 4th quarter. Norinchukin Bank The now owns 511 shares of the company's stock valued at $869,000 after buying an additional 39 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI traded down $39.31 during trading hours on Thursday, reaching $2,291.54. 141,721 shares of the company were exchanged, compared to its average volume of 384,478. MercadoLibre, Inc. has a 1 year low of $1,427.95 and a 1 year high of $2,374.54. The business's 50 day simple moving average is $2,057.84 and its 200-day simple moving average is $1,970.67. 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 has a market capitalization of $116.17 billion, a P/E ratio of 60.87, a P/E/G ratio of 1.12 and a beta of 1.62.

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

Analyst Ratings Changes

A number of brokerages have commented on MELI. Susquehanna upped their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Morgan Stanley reduced their target price on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. Bank of America raised their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Benchmark began 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. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $2,464.67.

MercadoLibre Company 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.