Redwood Investments LLC Sells 790 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Redwood Investments LLC decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,065 shares of the company’s stock after selling 790 shares during the period. MercadoLibre comprises approximately 1.4% of Redwood Investments LLC’s holdings, making the stock its 20th largest position. Redwood Investments LLC’s holdings in MercadoLibre were worth $5,212,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MELI. Capital Research Global Investors boosted its stake in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock valued at $4,108,079,000 after purchasing an additional 179,807 shares in the last quarter. Capital International Investors lifted its holdings in shares of MercadoLibre by 38.7% during the 4th 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 during the last quarter. Capital World Investors lifted its holdings in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after buying an additional 2,048 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,564.00 on Thursday. The firm’s fifty day moving average is $2,110.31 and its two-hundred day moving average is $1,992.37. The firm has a market cap of $129.99 billion, a price-to-earnings ratio of 68.01, a PEG ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,564.03.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company’s revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.78 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Barclays raised their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, Citigroup reissued a “buy” rating on shares of MercadoLibre in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,521.33.

MercadoLibre Company 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.