Polar Capital Holdings Plc Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Polar Capital Holdings Plc cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,852 shares of the company's stock after selling 35,313 shares during the quarter. Polar Capital Holdings Plc owned approximately 0.15% of MercadoLibre worth $128,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its position in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of 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 purchasing an additional 405,425 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $565,306,000. Capital World Investors raised its position in shares of 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 purchasing an additional 308,973 shares during the period. Finally, Norges Bank bought a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $383,051,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cantor Fitzgerald lowered their price target on shares of 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. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Finally, Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. One research 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,521.33.

MercadoLibre Trading Down 0.1%

Shares of MercadoLibre stock traded down $1.57 during trading on Friday, reaching $2,584.92. The company's stock had a trading volume of 279,704 shares, compared to its average volume of 383,139. MercadoLibre, Inc. has a 52-week low of $1,550.00 and a 52-week high of $2,610.30. The company has a market cap of $131.05 billion, a price-to-earnings ratio of 68.57, a PEG ratio of 1.12 and a beta of 1.61. The firm's 50-day moving average is $2,135.04 and its two-hundred day moving average is $1,999.73. 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 (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter in the prior year, the company earned $6.78 EPS. The firm's revenue was up 37.0% on a year-over-year basis. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.