MercadoLibre, Inc. $MELI Position Increased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,110 shares of the company’s stock after buying an additional 395 shares during the quarter. Pittenger & Anderson Inc.’s holdings in MercadoLibre were worth $6,264,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Balentine LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $540,000. Ping Capital Management Inc. purchased a new stake in MercadoLibre during the fourth quarter valued at about $201,000. PFA Pension Forsikringsaktieselskab purchased a new stake in MercadoLibre during the fourth quarter valued at about $64,923,000. Horizon Investments LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $147,000. Finally, Integrity Wealth Solutions LLC lifted its stake in MercadoLibre by 8.8% during the fourth quarter. Integrity Wealth Solutions LLC now owns 198 shares of the company’s stock valued at $399,000 after buying an additional 16 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wedbush reduced their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. UBS Group reduced their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,685.33.

MercadoLibre Trading Up 3.2%

NASDAQ:MELI opened at $1,850.05 on Friday. The stock’s 50 day moving average price is $1,760.90 and its 200 day moving average price is $1,972.77. MercadoLibre, Inc. has a 52 week low of $1,593.21 and a 52 week high of $2,645.22. The company has a market capitalization of $93.80 billion, a P/E ratio of 46.96, a P/E/G ratio of 0.92 and a beta of 1.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Saturday, February 14th. The company reported $11.03 EPS for the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The firm had revenue of $8.76 billion for the quarter. On average, research analysts forecast that MercadoLibre, Inc. will post 48.79 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.