UniSuper Management Pty Ltd Purchases 7,005 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

UniSuper Management Pty Ltd increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 76.2% during the 4th quarter, Holdings Channel reports. The firm owned 16,200 shares of the company’s stock after acquiring an additional 7,005 shares during the period. UniSuper Management Pty Ltd’s holdings in MercadoLibre were worth $27,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre in the 3rd quarter worth $114,417,000. Principal Financial Group Inc. boosted its stake in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after acquiring an additional 10,272 shares during the period. Nordea Investment Management AB grew its position in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after purchasing an additional 143 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 5.3 %

MELI stock opened at $2,074.97 on Thursday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The stock has a market capitalization of $105.19 billion, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $2,018.97 and its two-hundred day simple moving average is $1,973.49.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MELI shares. Cantor Fitzgerald increased their price objective 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. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Wedbush decreased their price target on shares of 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. 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. Finally, The Goldman Sachs Group boosted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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.