Man Group plc Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Man Group plc trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,204 shares of the company’s stock after selling 5,748 shares during the period. Man Group plc owned about 0.06% of MercadoLibre worth $47,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in MELI. Human Investing LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. lifted its position in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd bought a new stake in MercadoLibre during the fourth quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in MercadoLibre during the fourth quarter worth approximately $32,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.9%

MELI stock opened at $2,564.00 on Thursday. The firm has a market cap of $129.99 billion, a PE ratio of 68.01, a PEG ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,564.03. The firm’s 50 day moving average price is $2,110.31 and its 200-day moving average price is $1,992.37.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.78 earnings per share. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on MELI. Raymond James raised 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. Cantor Fitzgerald cut their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Barclays upped their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Susquehanna upped their target price 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. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,521.33.

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.