The Manufacturers Life Insurance Company Has $48 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

The Manufacturers Life Insurance Company trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,226 shares of the company's stock after selling 5,242 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of MercadoLibre worth $47,997,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $3,452,000. NZS Capital LLC boosted its stake in shares of MercadoLibre by 3.0% during the 4th quarter. NZS Capital LLC now owns 22,205 shares of the company's stock valued at $37,758,000 after buying an additional 638 shares during the period. Virtus ETF Advisers LLC grew its holdings in shares of MercadoLibre by 3.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 556 shares of the company's stock valued at $945,000 after acquiring an additional 20 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of MercadoLibre by 10.5% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 59,525 shares of the company's stock worth $101,219,000 after acquiring an additional 5,670 shares during the last quarter. Finally, Nebula Research & Development LLC raised its holdings in shares of MercadoLibre by 118.8% during the fourth quarter. Nebula Research & Development LLC now owns 2,120 shares of the company's stock worth $3,605,000 after acquiring an additional 1,151 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI stock traded down $34.61 during trading hours on Monday, reaching $2,246.09. 172,063 shares of the company's stock were exchanged, compared to its average volume of 378,597. The business has a fifty day moving average price of $2,061.51 and a 200-day moving average price of $1,972.70. The stock has a market capitalization of $113.87 billion, a P/E ratio of 59.57, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week 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 for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MELI. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Susquehanna boosted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.