Cerity Partners LLC Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Cerity Partners LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,926 shares of the company’s stock after purchasing an additional 51 shares during the quarter. Cerity Partners LLC’s holdings in MercadoLibre were worth $8,948,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MELI. Human Investing LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in shares of 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 last quarter. Brown Lisle Cummings Inc. boosted its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $32,000. Finally, Mather Group LLC. boosted its holdings in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 2.4 %

Shares of MELI stock opened at $1,933.99 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. 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 firm has a market capitalization of $98.05 billion, a PE ratio of 51.30, a P/E/G ratio of 1.12 and a beta of 1.62. The stock’s 50-day simple moving average is $2,035.55 and its 200-day simple moving average is $1,959.84.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Susquehanna increased their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Morgan Stanley cut their price target on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Wedbush cut their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Two 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $2,409.69.

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.