MercadoLibre, Inc. (NASDAQ:MELI) Holdings Raised by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,476 shares of the company’s stock after purchasing an additional 213 shares during the quarter. Cetera Investment Advisers’ holdings in MercadoLibre were worth $9,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MELI. Capital International Investors raised its stake in shares of MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at about $565,306,000. Capital World Investors grew its holdings in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the period. Finally, Norges Bank acquired a new position in MercadoLibre during the fourth quarter worth about $383,051,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a report on Thursday, May 1st. Barclays lifted their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, StockNews.com raised MercadoLibre from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,504.67.

MercadoLibre Trading Up 1.8%

NASDAQ:MELI opened at $2,452.53 on Monday. 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 fifty-two week low of $1,550.00 and a fifty-two week high of $2,501.00. The stock’s 50-day moving average is $2,081.98 and its two-hundred day moving average is $1,981.52. The stock has a market cap of $124.34 billion, a PE ratio of 65.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the previous year, the business posted $6.78 EPS. The business’s revenue for the quarter was up 37.0% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

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.