Ethic Inc. Acquires 77 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ethic Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 916 shares of the company’s stock after buying an additional 77 shares during the quarter. Ethic Inc.’s holdings in MercadoLibre were worth $1,558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MELI. Oppenheimer & Co. Inc. increased its stake in 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 purchasing an additional 143 shares in the last quarter. Assenagon Asset Management S.A. increased its position in MercadoLibre by 12.4% in 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. Ninety One North America Inc. acquired a new position in MercadoLibre during the 4th quarter worth approximately $4,923,000. Paragon Capital Management Inc. raised its stake in MercadoLibre by 58.5% during the 4th quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company’s stock worth $2,784,000 after buying an additional 604 shares during the period. Finally, Vinland Capital Management Gestora de Recursos LTDA. bought a new position in MercadoLibre in the fourth quarter worth approximately $63,613,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Susquehanna upped their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,504.67.

MercadoLibre Stock Performance

Shares of MELI opened at $2,504.61 on Tuesday. The stock has a 50 day moving average of $2,089.82 and a 200 day moving average of $1,984.71. The company has a market capitalization of $126.98 billion, a price-to-earnings ratio of 66.44, a PEG ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,520.00. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company’s revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.78 EPS. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.