Parvin Asset Management LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Parvin Asset Management LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 545 shares of the company’s stock, valued at approximately $927,000. MercadoLibre comprises about 1.0% of Parvin Asset Management LLC’s holdings, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of MELI. Capital Research Global Investors increased its position in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after purchasing an additional 179,807 shares in the last quarter. Capital International Investors increased its position in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Capital World Investors increased its position in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after purchasing an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after purchasing an additional 2,048 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,280.86 on Wednesday. The business’s fifty day moving average price is $2,056.42 and its 200 day moving average price is $1,968.17. MercadoLibre, Inc. has a 12-month low of $1,427.95 and a 12-month high of $2,374.54. The stock has a market capitalization of $115.63 billion, a PE ratio of 60.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. 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 posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (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 for the quarter, compared to analysts’ expectations of $5.94 billion. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research analyst reports. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Benchmark started coverage on MercadoLibre in a report on Tuesday, April 15th. They issued a “buy” rating and a $2,500.00 price target for the company. Cantor Fitzgerald decreased their price target on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Barclays upped their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $2,464.67.

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.