Fisher Asset Management LLC Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Fisher Asset Management LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,468 shares of the company’s stock after purchasing an additional 75 shares during the period. Fisher Asset Management LLC’s holdings in MercadoLibre were worth $283,069,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $350,000. Milestones Administradora de Recursos Ltda. increased its holdings in shares of MercadoLibre by 390.6% in the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 3,714 shares of the company’s stock worth $6,315,000 after buying an additional 2,957 shares during the period. Verus Capital Partners LLC increased its holdings in shares of MercadoLibre by 11.0% in the fourth quarter. Verus Capital Partners LLC now owns 131 shares of the company’s stock worth $223,000 after buying an additional 13 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in shares of MercadoLibre in the fourth quarter worth about $162,000. Finally, QRG Capital Management Inc. increased its holdings in shares of MercadoLibre by 17.5% in the fourth quarter. QRG Capital Management Inc. now owns 168 shares of the company’s stock worth $286,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.4 %

MELI stock opened at $2,121.87 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The business’s 50 day moving average price is $1,909.95 and its two-hundred day moving average price is $1,966.83. 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 company has a market capitalization of $107.57 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on MELI. Susquehanna lifted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. Morgan Stanley decreased their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Wedbush decreased their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Cantor Fitzgerald lifted their price objective on 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 given a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Buy” and a consensus target price of $2,385.94.

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.