Tower Research Capital LLC TRC Raises Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Tower Research Capital LLC TRC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 94.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,714 shares of the company's stock after purchasing an additional 832 shares during the quarter. Tower Research Capital LLC TRC's holdings in MercadoLibre were worth $2,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Human Investing LLC acquired a new position in MercadoLibre during the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. grew its stake in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. increased its holdings in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares in the last quarter. Covestor Ltd acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MELI. 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. The Goldman Sachs Group raised their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Barclays upped their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $2,464.67.

MercadoLibre Trading Up 1.0 %

NASDAQ MELI traded up $21.04 during trading hours on Friday, hitting $2,225.85. 284,084 shares of the company's stock were exchanged, compared to its average volume of 385,686. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $112.84 billion, a P/E ratio of 59.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The business's 50 day moving average is $2,050.36 and its 200-day moving average is $1,965.16. MercadoLibre, Inc. has a 12-month low of $1,419.86 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.