Mawer Investment Management Ltd. Sells 600 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mawer Investment Management Ltd. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,506 shares of the company’s stock after selling 600 shares during the period. Mawer Investment Management Ltd.’s holdings in MercadoLibre were worth $2,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth about $565,306,000. Norges Bank bought a new position in MercadoLibre during the 4th quarter worth approximately $383,051,000. Strategic Financial Concepts LLC grew its holdings in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after purchasing an additional 181,849 shares during the period. Wellington Management Group LLP increased its stake in MercadoLibre by 52.9% in the third 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in MercadoLibre in the third quarter worth $114,417,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Cantor Fitzgerald raised their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Barclays boosted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, 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 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 stock. According to data from MarketBeat, MercadoLibre has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,048.07 on Friday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a market cap of $103.83 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. 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 stock’s 50-day simple moving average is $2,028.39 and its 200 day simple moving average is $1,974.17.

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