Fisher Asset Management LLC Decreases Holdings in MercadoLibre, Inc. $MELI

Fisher Asset Management LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% in the fourth quarter, Holdings Channel reports. The firm owned 72,902 shares of the company’s stock after selling 2,921 shares during the period. Fisher Asset Management LLC’s holdings in MercadoLibre were worth $146,844,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors boosted its position in MercadoLibre by 3.4% during the 3rd quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock worth $4,244,604,000 after purchasing an additional 59,838 shares during the period. Capital World Investors boosted its position in MercadoLibre by 1.3% during the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after purchasing an additional 22,659 shares during the period. Schroder Investment Management Group boosted its position in MercadoLibre by 9.8% during the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock worth $1,432,565,000 after purchasing an additional 50,893 shares during the period. Finally, WCM Investment Management LLC boosted its position in MercadoLibre by 0.4% during the 3rd quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after purchasing an additional 1,833 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,664.42 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a market capitalization of $84.39 billion, a P/E ratio of 43.93, a P/E/G ratio of 1.03 and a beta of 1.41. The company’s fifty day moving average price is $1,721.23 and its two-hundred day moving average price is $1,914.48.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the firm earned $9.74 EPS. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MELI shares. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Scotiabank decreased their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.