MML Investors Services LLC Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

MML Investors Services LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,448 shares of the company's stock after selling 931 shares during the period. MML Investors Services LLC's holdings in MercadoLibre were worth $5,863,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Human Investing LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. boosted its position in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd bought a new position in MercadoLibre during the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $32,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MELI. Bank of America increased 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 report on Friday, February 21st. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Susquehanna upped their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. Cantor Fitzgerald dropped their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Two investment 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $2,464.67.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $5.23 during trading hours on Wednesday, hitting $2,286.09. The company's stock had a trading volume of 194,828 shares, compared to its average volume of 421,300. MercadoLibre, Inc. has a 12-month low of $1,427.95 and a 12-month high of $2,374.54. The company has a market cap of $115.90 billion, a PE ratio of 60.64, a PEG ratio of 1.12 and a beta of 1.62. The business has a 50 day moving average price of $2,056.42 and a two-hundred day moving average price of $1,968.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

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.