Sheets Smith Wealth Management purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,078 shares of the company’s stock, valued at approximately $1,806,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Redpoint Investment Management Pty Ltd raised its stake in MercadoLibre by 53.7% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 1,211 shares of the company’s stock valued at $2,029,000 after purchasing an additional 423 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in MercadoLibre by 8.5% in the 4th quarter. OneAscent Financial Services LLC now owns 602 shares of the company’s stock worth $1,008,000 after purchasing an additional 47 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of MercadoLibre by 4.0% in the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 206 shares of the company’s stock valued at $345,000 after buying an additional 8 shares during the period. Sowell Financial Services LLC raised its stake in shares of MercadoLibre by 38.9% during the fourth quarter. Sowell Financial Services LLC now owns 357 shares of the company’s stock valued at $598,000 after acquiring an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of MercadoLibre in the fourth quarter worth approximately $3,685,000. 75.66% of the stock is currently owned by institutional investors.
Shares of MELI stock traded down $11.90 on Wednesday, reaching $1,798.19. The company’s stock had a trading volume of 504,645 shares, compared to its average volume of 699,431. The stock’s fifty day simple moving average is $1,629.38 and its 200-day simple moving average is $1,268.69. MercadoLibre, Inc. has a 1 year low of $422.22 and a 1 year high of $1,845.25. The company has a market capitalization of $89.68 billion, a price-to-earnings ratio of -11,261.42 and a beta of 1.66. The company has a current ratio of 1.64, a quick ratio of 1.62 and a debt-to-equity ratio of 0.35.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $984.75 million. MercadoLibre had a negative net margin of 0.12% and a negative return on equity of 0.22%. The business’s quarterly revenue was up 85.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.96) EPS. Equities research analysts forecast that MercadoLibre, Inc. will post 1.45 earnings per share for the current year.
A number of research firms recently weighed in on MELI. BTIG Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 16th. UBS Group boosted their price target on shares of MercadoLibre from $1,400.00 to $1,530.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Santander upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,980.00 price objective for the company in a research note on Tuesday, December 22nd. Zacks Investment Research cut shares of MercadoLibre from a “strong-buy” rating to a “hold” rating and set a $1,808.00 price target on the stock. in a report on Thursday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,370.00 to $1,640.00 and gave the company an “overweight” rating in a report on Monday, November 9th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $1,335.35.
MercadoLibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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