Anchor Investment Management LLC Sells 51 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Anchor Investment Management LLC reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 578 shares of the company’s stock after selling 51 shares during the period. Anchor Investment Management LLC’s holdings in MercadoLibre were worth $983,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in MercadoLibre by 20.9% in 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 during the period. Nordea Investment Management AB increased 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 worth $271,897,000 after buying an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of MercadoLibre by 12.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company’s stock valued at $172,613,000 after buying an additional 11,166 shares in the last quarter. Finally, Ninety One North America Inc. bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $4,923,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MELI. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Citigroup restated a “buy” rating on shares of MercadoLibre in a research note on Tuesday. Barclays increased their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald upped their price objective 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. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and an average price target of $2,415.00.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,118.32 on Wednesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average is $2,039.51 and its 200 day moving average is $1,958.84. The company has a market cap of $107.39 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its earnings results 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 net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.