Cerity Partners LLC Acquires 409 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Cerity Partners LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,274 shares of the company’s stock after purchasing an additional 409 shares during the period. Cerity Partners LLC’s holdings in MercadoLibre were worth $3,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Morgan Stanley raised its position in MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after purchasing an additional 236,744 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after acquiring an additional 146,034 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 30.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock worth $401,841,000 after acquiring an additional 111,751 shares during the period. Royal London Asset Management Ltd. grew its holdings in shares of MercadoLibre by 108.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock worth $248,475,000 after acquiring an additional 101,757 shares during the period. Finally, Norges Bank purchased a new position in shares of MercadoLibre during the 4th quarter worth approximately $77,909,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Wedbush reiterated an “outperform” rating and set a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Susquehanna upped their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, Barclays cut their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,806.15.

MercadoLibre Stock Performance

MELI stock opened at $1,397.86 on Thursday. The stock has a market capitalization of $70.87 billion, a PE ratio of 71.54, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock’s 50 day simple moving average is $1,574.80 and its 200 day simple moving average is $1,523.84.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s revenue was up 42.0% compared to the same quarter last year. During the same period last year, the company posted $3.25 earnings per share. As a group, research analysts forecast that MercadoLibre, Inc. will post 35.89 earnings per share for the current fiscal year.

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.