MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by GM Advisory Group LLC

GM Advisory Group LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 439.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 723 shares of the company’s stock after acquiring an additional 589 shares during the period. GM Advisory Group LLC’s holdings in MercadoLibre were worth $1,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jennison Associates LLC lifted its stake in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the period. FMR LLC lifted its stake in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp lifted its stake in shares of MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after purchasing an additional 12,000 shares during the period. Wellington Management Group LLP lifted its stake in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $565,306,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,002.80 on Wednesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The firm has a market capitalization of $101.54 billion, a price-to-earnings ratio of 53.12, a PEG ratio of 1.12 and a beta of 1.64. The company has a fifty day simple moving average of $1,977.75 and a 200-day simple moving average of $1,969.35. 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) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of several analyst reports. Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Wedbush cut 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. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $2,402.81.

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.