Schechter Investment Advisors LLC Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Schechter Investment Advisors LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 9.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 181 shares of the company’s stock after selling 18 shares during the quarter. Schechter Investment Advisors LLC’s holdings in MercadoLibre were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MELI. LGT Fund Management Co Ltd. grew its position in MercadoLibre by 200.0% during the fourth quarter. LGT Fund Management Co Ltd. now owns 360 shares of the company’s stock valued at $612,000 after acquiring an additional 240 shares during the last quarter. LGT Group Foundation purchased a new stake in shares of MercadoLibre in the 4th quarter valued at $1,784,000. DJE Kapital AG bought a new position in shares of MercadoLibre during the 4th quarter valued at $7,368,000. Bellecapital International Ltd. raised its position in MercadoLibre by 10.9% in the 4th quarter. Bellecapital International Ltd. now owns 10,665 shares of the company’s stock worth $18,135,000 after purchasing an additional 1,047 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in MercadoLibre in the fourth quarter worth $3,933,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MELI stock opened at $2,112.77 on Thursday. 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 1 year low of $1,324.99 and a 1 year high of $2,374.54. The firm has a 50-day moving average of $1,930.48 and a 200 day moving average of $1,969.77. The company has a market cap of $107.11 billion, a P/E ratio of 56.04, a PEG ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MELI. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group raised their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Morgan Stanley cut their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Barclays upped their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $2,402.81.

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.