MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Black Swift Group LLC

Black Swift Group LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 75.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 425 shares of the company’s stock after selling 1,325 shares during the period. Black Swift Group LLC’s holdings in MercadoLibre were worth $723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. Raymond James Financial Inc. purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $70,131,000. Promus Capital LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $107,000. Dana Investment Advisors Inc. grew its holdings in shares of MercadoLibre by 1.8% in the fourth quarter. Dana Investment Advisors Inc. now owns 621 shares of the company’s stock valued at $1,056,000 after purchasing an additional 11 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of MercadoLibre by 0.8% in the fourth quarter. Arizona State Retirement System now owns 13,156 shares of the company’s stock valued at $22,371,000 after purchasing an additional 103 shares in the last quarter. Finally, Oak Grove Capital LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $3,845,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MELI shares. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a report on Tuesday, January 21st. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Wedbush lowered 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 report on Monday, January 6th. Finally, Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Trading Up 2.6 %

Shares of MELI stock opened at $2,112.77 on Thursday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The firm’s 50-day simple moving average is $1,930.48 and its 200-day simple moving average is $1,969.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $107.11 billion, a P/E ratio of 56.04, a PEG ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.