OneDigital Investment Advisors LLC Increases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

OneDigital Investment Advisors LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 35.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 772 shares of the company’s stock after buying an additional 200 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in MercadoLibre were worth $1,313,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of MercadoLibre by 94.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,714 shares of the company’s stock worth $2,915,000 after purchasing an additional 832 shares in the last quarter. Mirabella Financial Services LLP boosted its holdings in MercadoLibre by 66.7% during the fourth quarter. Mirabella Financial Services LLP now owns 3,598 shares of the company’s stock worth $6,115,000 after buying an additional 1,439 shares in the last quarter. Norinchukin Bank The grew its position in MercadoLibre by 8.3% during the fourth quarter. Norinchukin Bank The now owns 511 shares of the company’s stock worth $869,000 after buying an additional 39 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in MercadoLibre by 416.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,583 shares of the company’s stock valued at $38,401,000 after buying an additional 18,214 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock valued at $4,108,079,000 after acquiring an additional 179,807 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MELI. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Benchmark assumed coverage on shares of MercadoLibre in a research report on Tuesday, April 15th. They issued a “buy” rating and a $2,500.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $2,464.67.

MercadoLibre Stock Up 3.0 %

Shares of NASDAQ:MELI opened at $2,204.81 on Friday. 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 cap of $111.78 billion, a price-to-earnings ratio of 58.48, a PEG ratio of 1.12 and a beta of 1.62. The stock’s 50-day moving average price is $2,047.82 and its two-hundred day moving average price is $1,964.79. MercadoLibre, Inc. has a 12-month low of $1,341.00 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.