MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 88.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,189 shares of the company’s stock after acquiring an additional 1,030 shares during the period. Ascent Wealth Partners LLC’s holdings in MercadoLibre were worth $3,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in MELI. Human Investing LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. grew its stake in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. grew its stake in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at $32,000. Finally, Mather Group LLC. grew its stake in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MELI. Citigroup dropped their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald lifted their price target 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. JPMorgan Chase & Co. dropped their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Bank of America raised their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and an average target price of $2,364.06.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by insiders.

MercadoLibre Stock Up 7.1 %

NASDAQ MELI opened at $2,260.00 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 quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business’s fifty day simple moving average is $1,867.29 and its 200-day simple moving average is $1,957.32. The firm has a market cap of $114.58 billion, a PE ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62.

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