Guggenheim Capital LLC Grows Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Guggenheim Capital LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,774 shares of the company’s stock after acquiring an additional 182 shares during the quarter. Guggenheim Capital LLC’s holdings in MercadoLibre were worth $21,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after acquiring an additional 43,215 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after acquiring an additional 143 shares in the last quarter. Assenagon Asset Management S.A. increased its position in MercadoLibre by 12.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company’s stock worth $172,613,000 after purchasing an additional 11,166 shares in the last quarter. Finally, Ninety One North America Inc. acquired a new position in MercadoLibre in the 4th quarter valued at about $4,923,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Cantor Fitzgerald increased their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Morgan Stanley lowered their price target on MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Wedbush decreased their target price 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. Two investment 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 presently has a consensus rating of “Buy” and a consensus target price of $2,409.69.

MercadoLibre Trading Up 2.0 %

NASDAQ MELI opened at $2,037.12 on Tuesday. The company’s fifty day moving average price is $2,037.40 and its two-hundred day moving average price is $1,957.73. The company has a market capitalization of $103.28 billion, a price-to-earnings ratio of 54.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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