First Trust Advisors LP increased its stake in Mercadolibre Inc (NASDAQ:MELI) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,255 shares of the company’s stock after buying an additional 2,942 shares during the quarter. First Trust Advisors LP’s holdings in Mercadolibre were worth $10,441,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Tower View Investment Management & Research LLC grew its stake in shares of Mercadolibre by 1.1% in the fourth quarter. Tower View Investment Management & Research LLC now owns 1,536 shares of the company’s stock valued at $878,000 after buying an additional 16 shares in the last quarter. Reilly Financial Advisors LLC grew its stake in Mercadolibre by 64.5% during the 3rd quarter. Reilly Financial Advisors LLC now owns 51 shares of the company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in Mercadolibre by 1.6% during the 4th quarter. Harbour Capital Advisors LLC now owns 1,313 shares of the company’s stock valued at $751,000 after purchasing an additional 21 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Mercadolibre by 2.3% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 1,009 shares of the company’s stock valued at $556,000 after purchasing an additional 23 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in Mercadolibre by 1.1% during the 3rd quarter. Stephens Inc. AR now owns 2,138 shares of the company’s stock valued at $1,179,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.
A number of equities research analysts have weighed in on MELI shares. Barclays restated a “buy” rating and set a $720.00 price objective on shares of Mercadolibre in a research note on Sunday, January 26th. Bradesco Corretora lowered Mercadolibre from an “outperform” rating to a “neutral” rating and set a price objective for the company. in a research note on Tuesday, January 21st. BidaskClub downgraded Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Friday, February 7th. UBS Group reduced their target price on Mercadolibre from $730.00 to $670.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, ValuEngine downgraded Mercadolibre from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $694.10.
Shares of NASDAQ MELI opened at $735.01 on Friday. The company has a market cap of $36.54 billion, a price-to-earnings ratio of -202.48 and a beta of 1.57. Mercadolibre Inc has a 12-month low of $358.07 and a 12-month high of $735.24. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. The stock’s 50 day simple moving average is $649.27 and its 200 day simple moving average is $590.88.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, February 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.56). The company had revenue of $674.20 million during the quarter, compared to the consensus estimate of $666.97 million. Mercadolibre had a negative return on equity of 3.44% and a negative net margin of 7.49%. The company’s revenue for the quarter was up 57.5% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. As a group, equities analysts forecast that Mercadolibre Inc will post -0.99 earnings per share for the current fiscal year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
Further Reading: The limitations of an equal weight rating
Receive News & Ratings for Mercadolibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercadolibre and related companies with MarketBeat.com's FREE daily email newsletter.