SPX Gestao de Recursos Ltda Purchases New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

SPX Gestao de Recursos Ltda purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,680 shares of the company’s stock, valued at approximately $4,557,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MELI. Strategic Financial Concepts LLC increased its stake in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after acquiring an additional 181,849 shares during the last quarter. FMR LLC increased its stake in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. Wellington Management Group LLP increased its stake in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares during the last quarter. Swedbank AB increased its stake in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America raised their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Finally, Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Trading Down 3.2 %

NASDAQ:MELI opened at $1,944.61 on Tuesday. The firm has a market cap of $98.59 billion, a PE ratio of 51.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The stock has a fifty day moving average price of $1,946.86 and a 200 day moving average price of $1,969.34. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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

MercadoLibre 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.