4,208 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,208 shares of the company’s stock, valued at approximately $7,155,000.

Several other institutional investors also recently bought and sold shares of MELI. Bamco Inc. NY boosted its position in MercadoLibre by 11.0% during the 4th quarter. Bamco Inc. NY now owns 58,198 shares of the company’s stock worth $98,962,000 after purchasing an additional 5,745 shares during the period. Banque Transatlantique SA purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $41,000. Bearing Point Capital LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $1,039,000. Ameriprise Financial Inc. raised its holdings in shares of MercadoLibre by 4.2% during the 4th quarter. Ameriprise Financial Inc. now owns 301,940 shares of the company’s stock valued at $513,408,000 after buying an additional 12,104 shares during the period. Finally, Ancora Advisors LLC lifted its position in MercadoLibre by 10.9% during the 4th quarter. Ancora Advisors LLC now owns 61 shares of the company’s stock worth $104,000 after acquiring an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Benchmark downgraded shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday. 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. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Susquehanna increased their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,464.67.

MercadoLibre Stock Performance

Shares of MELI opened at $2,246.54 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,374.54. The business’s fifty day moving average price is $2,062.48 and its 200 day moving average price is $1,973.87. The stock has a market capitalization of $113.89 billion, a PE ratio of 59.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly 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 company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.