Premier Fund Managers Ltd Sells 126 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Premier Fund Managers Ltd reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,175 shares of the company’s stock after selling 126 shares during the quarter. Premier Fund Managers Ltd’s holdings in MercadoLibre were worth $12,359,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MELI. X Square Capital LLC grew its holdings in shares of MercadoLibre by 64.0% during the 4th quarter. X Square Capital LLC now owns 2,795 shares of the company’s stock worth $4,752,000 after purchasing an additional 1,091 shares in the last quarter. Norges Bank purchased a new position in MercadoLibre during the fourth quarter worth about $383,051,000. Blair William & Co. IL grew its stake in shares of MercadoLibre by 54.0% during the 4th quarter. Blair William & Co. IL now owns 3,512 shares of the company’s stock worth $5,972,000 after acquiring an additional 1,232 shares during the period. LM Advisors LLC lifted its stake in MercadoLibre by 54.5% in the 4th quarter. LM Advisors LLC now owns 238 shares of the company’s stock worth $405,000 after purchasing an additional 84 shares in the last quarter. Finally, AssuredPartners Investment Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $1,202,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MELI. JPMorgan Chase & Co. raised 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 raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Trading Up 1.0 %

NASDAQ MELI opened at $2,095.85 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The firm has a market capitalization of $106.25 billion, a PE ratio of 55.59, a P/E/G ratio of 1.12 and a beta of 1.64. The stock’s 50 day moving average is $2,024.14 and its 200 day moving average is $1,974.34. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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 return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.