Pitcairn Co. Has $682,000 Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Pitcairn Co. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 42.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 401 shares of the company’s stock after buying an additional 119 shares during the period. Pitcairn Co.’s holdings in MercadoLibre were worth $682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arete Wealth Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at about $206,000. Motley Fool Asset Management LLC raised its position in shares of MercadoLibre by 5.7% in the 4th quarter. Motley Fool Asset Management LLC now owns 5,035 shares of the company’s stock valued at $8,562,000 after acquiring an additional 272 shares during the period. World Investment Advisors boosted its stake in MercadoLibre by 9.7% during the 4th quarter. World Investment Advisors now owns 521 shares of the company’s stock worth $886,000 after acquiring an additional 46 shares during the last quarter. Westpac Banking Corp grew its holdings in MercadoLibre by 46.2% during the fourth quarter. Westpac Banking Corp now owns 2,151 shares of the company’s stock valued at $3,658,000 after purchasing an additional 680 shares during the period. Finally, Huntington National Bank raised its holdings in MercadoLibre by 11.9% in the fourth quarter. Huntington National Bank now owns 66 shares of the company’s stock worth $112,000 after purchasing an additional 7 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 5.4 %

MELI stock opened at $1,841.29 on Friday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The business’s 50 day simple moving average is $2,036.90 and its 200 day simple moving average is $1,968.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $93.35 billion, a PE ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.94 billion. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MELI shares. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Susquehanna upped their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.