Hardman Johnston Global Advisors LLC Sells 8,269 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Hardman Johnston Global Advisors LLC trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,814 shares of the company's stock after selling 8,269 shares during the period. MercadoLibre comprises 9.8% of Hardman Johnston Global Advisors LLC's holdings, making the stock its largest position. Hardman Johnston Global Advisors LLC owned approximately 0.39% of MercadoLibre worth $306,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $28,000. Salem Investment Counselors Inc. grew its holdings in MercadoLibre by 500.0% in the third quarter. Salem Investment Counselors Inc. now owns 24 shares of the company's stock valued at $30,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. acquired a new stake in MercadoLibre in the third quarter valued at approximately $32,000. Castleview Partners LLC grew its holdings in MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company's stock valued at $32,000 after purchasing an additional 10 shares during the period. Finally, NBC Securities Inc. acquired a new stake in MercadoLibre in the third quarter valued at approximately $35,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 4.2 %

MercadoLibre stock traded down $63.42 during trading on Friday, reaching $1,444.14. 539,027 shares of the company were exchanged, compared to its average volume of 383,464. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The company has a market capitalization of $73.22 billion, a P/E ratio of 73.91, a PEG ratio of 0.95 and a beta of 1.44. The stock's 50 day simple moving average is $1,601.13 and its two-hundred day simple moving average is $1,518.14.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the prior year, the firm earned $3.25 EPS. MercadoLibre's revenue for the quarter was up 42.0% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 35.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MELI shares. Wedbush restated an "outperform" rating and issued a $2,000.00 target price on shares of MercadoLibre in a research report on Tuesday, March 5th. Citigroup decreased their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a "buy" rating on the stock in a research report on Wednesday, March 27th. Susquehanna raised their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a "positive" rating in a research report on Friday, February 23rd. Barclays decreased their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $1,806.15.

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.

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