Bank of Hawaii Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

Bank of Hawaii decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 401 shares of the company’s stock after selling 91 shares during the quarter. Bank of Hawaii’s holdings in MercadoLibre were worth $682,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MELI. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $565,306,000. Norges Bank acquired a new position in MercadoLibre in the fourth quarter valued at about $383,051,000. Strategic Financial Concepts LLC lifted its position in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after buying an additional 181,849 shares during the last quarter. Coronation Fund Managers Ltd. lifted its position in MercadoLibre by 130.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company’s stock valued at $131,747,000 after buying an additional 43,836 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MELI. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Cantor Fitzgerald increased their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Two 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, the stock has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,980.66 on Thursday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business has a fifty day moving average of $2,035.05 and a two-hundred day moving average of $1,961.07. The company has a market cap of $100.41 billion, a P/E ratio of 52.54, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts predict 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.