Abbot Financial Management Inc. Has $798,000 Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Abbot Financial Management Inc. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 469 shares of the company’s stock after purchasing an additional 72 shares during the period. Abbot Financial Management Inc.’s holdings in MercadoLibre were worth $798,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the period. FMR LLC increased its stake in shares of MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp lifted its holdings in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in MercadoLibre by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock valued at $400,619,000 after buying an additional 3,710 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,059.87 on Wednesday. The company’s 50 day moving average price is $1,923.09 and its two-hundred day moving average price is $1,968.76. The firm has a market capitalization of $104.43 billion, a P/E ratio of 54.64, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week 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 released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $5.94 billion. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of a number of research reports. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Bank of America raised their target price 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. Citigroup cut their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Two equities research 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’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $2,402.81.

About MercadoLibre

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.