Victory Capital Management Inc. Has $38.14 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Victory Capital Management Inc. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,270 shares of the company’s stock after purchasing an additional 2,449 shares during the quarter. Victory Capital Management Inc.’s holdings in MercadoLibre were worth $38,141,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC increased its holdings in shares of MercadoLibre by 38.8% during the 4th quarter. Alpha Cubed Investments LLC now owns 286 shares of the company’s stock worth $449,000 after purchasing an additional 80 shares during the period. Brighton Jones LLC increased its stake in MercadoLibre by 3.9% during the fourth quarter. Brighton Jones LLC now owns 240 shares of the company’s stock valued at $377,000 after acquiring an additional 9 shares during the period. Mission Wealth Management LP acquired a new position in MercadoLibre in the 4th quarter valued at approximately $281,000. Cozad Asset Management Inc. lifted its position in shares of MercadoLibre by 39.6% in the 4th quarter. Cozad Asset Management Inc. now owns 335 shares of the company’s stock worth $526,000 after acquiring an additional 95 shares during the period. Finally, Sargent Investment Group LLC increased its position in shares of MercadoLibre by 15.0% during the fourth quarter. Sargent Investment Group LLC now owns 498 shares of the company’s stock valued at $783,000 after purchasing an additional 65 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research report on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research report on Friday. Barclays cut their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, Susquehanna raised their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,805.00.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,653.85 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The stock has a 50-day simple moving average of $1,500.17 and a 200 day simple moving average of $1,545.49. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $83.85 billion, a price-to-earnings ratio of 74.00, a P/E/G ratio of 1.09 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. MercadoLibre’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.97 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 34.46 earnings per share for the current fiscal year.

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.