Jupiter Asset Management Ltd. Sells 7,316 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Jupiter Asset Management Ltd. trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 28.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,232 shares of the company’s stock after selling 7,316 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in MercadoLibre were worth $31,002,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Planning Capital Management Corp increased its stake in shares of MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after buying an additional 5 shares during the period. Mount Lucas Management LP grew its position in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares during the period. Nvwm LLC boosted its stake in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares in the last quarter. Perigon Wealth Management LLC grew its position in MercadoLibre by 0.7% during the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after purchasing an additional 7 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its position in MercadoLibre by 17.9% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock valued at $78,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MELI has been the topic of a number of recent analyst reports. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Citigroup dropped their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Raymond James upgraded 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 research note on Tuesday, January 21st. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Up 2.3 %

NASDAQ MELI opened at $1,990.11 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $1,952.66 and a two-hundred day moving average of $1,969.27. The firm has a market capitalization of $100.89 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre 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.