Azimuth Capital Investment Management LLC Sells 18 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Azimuth Capital Investment Management LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,491 shares of the company’s stock after selling 18 shares during the period. Azimuth Capital Investment Management LLC’s holdings in MercadoLibre were worth $9,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. grew its holdings in MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after acquiring an additional 5 shares during the period. Nvwm LLC grew its stake in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of MercadoLibre by 0.7% during the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after purchasing an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after buying an additional 7 shares in the last quarter. Finally, Savant Capital LLC grew its position in MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company’s stock valued at $524,000 after buying an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MELI shares. Barclays increased their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the company from $2,000.00 to $2,300.00 in a research report 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 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,826.11 on Wednesday. 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 fifty day moving average is $2,033.21 and its two-hundred day moving average is $1,961.79. The firm has a market capitalization of $92.58 billion, a P/E ratio of 48.44, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, research 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.